Canada will announce Canadian $29.8 billion or $20.7 billion in retaliatory tariffs in response to the 25% steel and aluminum tariffs that U.S.

Donald Trump's focus on tariffs has unsettled investor, consumer, and business confidence, raising fears of a U.S. recession and global economic slowdown.

Canadian officials on Wednesday announced 25% tariffs on $29.8 billion of U.S.-produced goods after the Trump administration imposed 25% tariffs on Canadian steel and aluminum sold in the United States.