World丨Alarm over metals tariff hike

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The current 25 percent tariff is already "crushing", Devereux said, and raising it to 50 percent would "make it completely uneconomic to export".

"Either the cost to US importers would go up or the return to Canadian exporters would fall, or a mix of both," he said.

Devereux said the impact wouldn't stop at Canada's border. "This would be incredibly costly for the US also, since metals imported from Canada are vital for many US manufacturing sectors," he said.

Devereux said the broader Canadian economy also would feel the shock.

"There would be broad job losses in the regions most affected by the tariffs, caused by the ancillary and supporting industry and service jobs that depend on the metals sector," he said.

Catherine Cobden, president and CEO of the Canadian Steel Producers Association, called the move a direct threat to Canada's economy and a disruption to cross-border supply chains.

"Steel tariffs at this level will create mass disruption and negative consequences across our highly integrated steel supply chains and customers on both sides of the border," Cobden said in a statement on Saturday.

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