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, to protect the domestic steel industry.

China is deeply dissatisfied with and firmly opposed to Canada's imposition of tariffs on products containing Chinese steel, and will take all necessary measures to safeguard the lawful rights of Chinese enterprises, the Ministry of Commerce said on Friday.

WASHINGTON — President Donald Trump said in a letter that he will raise taxes on many imported goods from Canada to 35%, deepening a rift between two North American countries that have suffered a debilitating blow to their decades-old alliance.

US President Donald Trump has announced that all imports from Canada will have a 35% tariff as of August 1. He sent a letter to the country’s president, Mark Carney, informing him of the new rate, which has also been posted on his Truth Social account.

Tariffs—taxes placed on imported goods—are one of the oldest tools in the United States' economic policy arsenal, dating back to the 18th century. Recently they've returned to the spotlight in a big way.

President Donald Trump has announced he’s levying tariffs of 30% against the European Union and Mexico starting Aug. 1.