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.

Prime Minister Mark Carney says a fundamental shift in global steel markets will affect Canada more than many other countries because we rely more heavily on imports. He says there will be new tariffs on foreign imports over set quotas,

The two countries are aiming for a 1 August deal even after Trump announced a new 35% tariff on imports from Canada last week.

Multiple states bordering Canada could feel the greatest impact of a 35 percent tariff on Canadian products starting August 1.

S ome of the U.S.’s minor trading partners are about to find out they’ll be facing tariffs of more than 10%, as President Donald Trump presses ahead with his effort to reshape global trade. Trump said late Tuesday that Washington would let a group of smaller countries know about levies soon.