Prime Minister Mark Carney is expected to announce support for the Canadian steel industry, which has been clobbered by U.S. President Donald Trump’s tariffs, at an event in Hamilton, Ont., later this morning.

Prime Minister wouldn’t say which tariffs may remain in place if a deal is reached with the U.S. but emphasizes that the countries are working toward a trade agreement

Trump wrote to Carney to inform him that, from August 1, Canada will face a 35 percent import tariff after the two sides failed to reach a deal during the recent pause. The American leader said he would consider revising the 35 percent tariff "if Canada works with me to stop the flow of Fentanyl".