US President Donald Trump announced immediate quickly 50% tariffs on chosen Canadian goods.

The designated categories include steel, aluminum and lumber.

The Washington’s Treasury department said the move aims to shield domestic producers and shrink Canada’s trade surplus.

The Canada’s government responded with plans to fight back.

The Canadian dollar fell 1.5% against the US dollar after the statement.

Economists alerted that the tariffs could expanding trade conflict.

Washington and Ottawa indicated a willingness to negotiate a settlement.