Reciprocal tariffs on trading partners are also in the mix as officials say “punitive” tariffs on Mexico and Canada were only a small slice of trade agenda.

President Donald Trump has said he will announce a 25% import tax on all steel and aluminium entering the US, a move that will have the biggest impact in Canada. Trump also said that there would be an announcement later in the week about reciprocal tariffs on all countries that tax imports from the US,