Canada announced Wednesday reciprocal tariffs on U.S. steel and aluminum imports worth 29.8 billion Canadian dollars (20.7 billion U.S. dollars).

"Today, I am announcing that the government of Canada, following a dollar-for-dollar approach, will be imposing as of 12:01 a.m. tomorrow, March 13, 2025, 25 percent reciprocal tariffs on an additional 29.8 billion (Canadian dollars) of imports from the United States," Canadian Finance Minister Dominic LeBlanc said at a press conference.

The 25 percent tariffs will hit steel products worth 12.6 billion Canadian dollars and aluminum products worth 3 billion Canadian dollars, according to the announcement.

In addition, Canada is hitting another 14.2 billion Canadian dollars worth of imported U.S. goods with fresh tariffs, totaling 29.8 billion Canadian dollars in retaliation.

These measures come on top of the initial 30 billion Canadian dollars worth of U.S. imports that Canada imposed tariffs on earlier this month in response to Trump's U.S. International Emergency Economic Powers Act tariffs put in place on March 4.