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

Four months since Trump fired the opening salvo of his trade war, only China and Canada have dared to hit back at Washington imposing a minimum 10 per cent global tariff, 50 per cent levies on steel and aluminium, and 25 per cent on autos.

Canada introduced limits on how much foreign steel produced in countries other than the U.S. and Mexico can be imported to help a domestic sector reeling from President Trump’s tariffs.

President Donald Trump has posted two new letters on his social media platform announcing tariffs on the European Union and Mexico.

The move comes amid a separate push by President Trump to increase tariffs on dozens of U.S. trading partners, including Mexico, which was told over the weekend to expect 30% tariffs starting in August.

The Big Money Show' panel discusses President Donald Trump's pharmaceutical tariff strategy.