Canada’s steel industry fears that Chinese steel facing steep tariffs in the United States will be sent north and overwhelm the Canadian market.

President Donald Trump published a letter to Prime Minister Mark Carney on Thursday, accusing Canada of having "financially retaliated" against the U.S.

The prime minister pledges to diversify its trading partners away from the US and prioritise the use of Canadian steel.

Part of Carney’s success can be attributed to Donald Trump’s victory in the U.S. last year. After Trump talked of imposing high tariffs on Canada, and mused about making the country a 51st U.S. state,

Under the new policy, Canada will apply a 25 percent tariff on steel imports from any country — except the U.S. — if the original steel was melted and poured in China.

The letter reiterated Trump’s complaints about dairy quotas, fentanyl and the U.S. trade deficit, which is mostly fueled by American refineries’ thirst for Canadian oil. His social media post caused the Canadian dollar to immediately tumble, indicating the market wasn’t expecting this escalation.

Canadian Prime Minister Mark Carney reportedly said on Tuesday that it may not be possible for Canada to avoid U.S. tariffs. “There is not a lot of evidence right, with regards to negotiations, of any country or jurisdiction,

By Divya Rajagopal TORONTO (Reuters) -Prime Minister Mark Carney on Wednesday said Canada will introduce a tariff rate quota for countries with which it has free trade agreements, excluding the United States,

Prime Minister Mark Carney promised to further crack down on the amount of cheap, foreign steel entering the Canadian market by the end of the month, as the domestic industry continues to be clobbered by U.