Canada will announce Canadian $29.8 billion or $20.7 billion in retaliatory tariffs in response to the 25% steel and aluminum tariffs that U.S.

Canada will announce new trade duties on some $21 billion-worth of U.S. goods in response to President Donald Trump implementing universal steel and aluminum tariffs Wednesday that were also applied to Canada.

Donald Trump's focus on tariffs has unsettled investor, consumer, and business confidence, raising fears of a U.S. recession and global economic slowdown.