Experts, lawmakers, and industry people—alongside Canadian officials—have issued stark warnings about Trump's plan.

The USD/CAD exchange rate has crashed this year as the US dollar index (DXY) has plunged from $110 earlier this year to $99. It has dropped from 1.4790 on February 3 to the current 1.3738. Canadian economy at risk amid Trump steel tariffs The USD/CAD pair retreated on Friday as investors remained concerned about the trade relations between the US

President Trump's decision to double tariffs on steel and aluminum imports has sparked concerns in Canada, with warnings of mass disruption to supply chains. The Canadian Steel Producers Association urges immediate retaliatory measures to protect domestic markets.

Canada's latest growth figures, released Friday, were better than expected, but also highlighted weaknesses in the economy as the effects of a trade war launched by US President Donald Trump began to take hold.

U.S. President Donald Trump’s heightened tariffs on steel and aluminum coming into his country will “create mass disruption and negative consequences,” Canada’s steel industry warns. Trump said on Friday that he will double the tariffs on steel and aluminum imports to 50 per cent.

Citing jobs at stake, the U.S. Ambassador to Canada believes the two countries will reach a trade agreement benefiting both nations in the near future.

President Trump announced Friday that he would double tariffs on imported steel to 50% following a pair of court rulings that left many of his signature duties in limbo. “At 25%, they can sort of get over that fence.

"This ruling protects American businesses and consumers from the destabilizing effects of volatile, unilaterally imposed tariffs."