President Donald Trump imposed sweeping 25% tariffs on all steel and aluminum imported into the United States Wednesday, a policy aimed at leveling the playing field for US manufacturing but a move that threatens to drive up prices on a broad range of consumer and industrial goods for Americans.

Canada is expected to impose $20.7 billion in retaliatory tariffs after President Trump decided to enforce a 25 percent tariff on steel and aluminum, which went into effect on Wednesday. The Associated Press said a senior Canadian government official confirmed the move on Wednesday,

Canada and the European Union hit back with retaliatory tariffs Wednesday, as the 25% tariffs on all steel and aluminum imports into the U.S. came into effect.