President Trump announced he will impose tariffs on imported steel and aluminum to protect U.S. producers. Trump said the tariffs would include a 25% duty on foreign steel and 10% for aluminum. While there has not been an Executive Order or formal announcement from the White House yet, Trump said one would be issued next week. This announcement was criticized by Republican and Democratic lawmakers, as well as industries such as automakers, oil, construction, and farmers, who fear retaliation by steel-exporting countries. Already, countries from around the world, including Canada, China and EU member states, have stated they will retaliate in kind if these tariffs go into effect. The EU Commission President has stated that if the U.S. follows through with the tariffs, the EU would retaliate against the sanctions with tariffs of its own. China has stated it will curb U.S. agricultural imports as well as issue retaliatory tariffs. Canada is the largest source for U.S. steel and Prime Minister Justin Trudeau called the tariffs “unacceptable” and stated he would retaliate as well. This tariff announcement comes at a time when the U.S., Canada and Mexico are re-negotiating NAFTA, and private sectors in Canada are calling on the Prime Minister to walk away from the talks if the tariffs are formalized.