U.S. President Donald Trump has officially announced new tariffs on Canadian goods.

Effective Tuesday, February 4, a 25 per cent tariff will apply to all Canadian imports into the United States, except for energy products, including oil and gas, which will face a lower 10 per cent tariff.

Many economists believe the tariff announcement will kick off a brewing trade war with the USA which is likely to cause significant damage to both economies and sour America’s reputation internationally.

Prime Minister Justin Trudeau will meet with provincial and territorial premiers later today to discuss a response.

This is a developing story. Harvard Media News will provide updates as more details become available.