American consumers are going to see higher prices on everyday goods, said Jay Pitter, president of the Canadian Manufacturers and Exporters association. In February, Trump signed an executive order outlining plans to slap tariffs on imported steel and aluminum, citing national security concerns. The country would be exempt if it negotiated a special agreement with the US government. Trump and Trudeau met in March for the first time since he was elected last year. They discussed trade but failed to reach any agreements. In May, Canadian Minister of Foreign Affairs Chrystia Freeland traveled to Washington to work out an exemption to Trump's tariffs. The meeting produced no resolution. On June 1, Canada, Mexico and the European Union were granted a temporary reprieve from US tariffs on imported steel and aluminum products until June 30, while talks continue. Tobe is worried that his business will suffer as American consumers pay more for goods because of higher prices brought on by tariffs. It's like we're getting stabbed in the back, he said. It's going to cost more jobs. The Canadian government estimates the move could reduce Canada's GDP by 0.2 per cent and cut about 1,000 jobs. It also believes it will see a $3 billion hit from American tariffs on imported steel products. It is very hard to measure the economic impact of these decisions, said Pitter. Steel prices have increased globally as demand has outstripped supply. A drop in worldwide production caused by the financial crisis in 2008 had put pressure on prices, but that started to change in 2016 with an upswing in activity, according to a report released Wednesday by the World Steel Association. Prices continued to surge last year and in early 2018. In Canada, steel consumption hit a high of 4 million tons in 2017, up from 3.5 million tons in 2012, according to Statistics Canada. The country's steel sector employs about 14,000 people directly. Another 53,000 jobs depend on the industry. The global demand for steel has also increased as countries seek to build infrastructure ahead of hosting events like next year's soccer World Cup and the 2020 Tokyo Olympics, according to analyst Robin Mills. It's not just Canada, said Mills. You're seeing it all around the world in different forms. Meanwhile, Trudeau is trying to diversify an economy that relies on oil and gas exports. His government has put a greater emphasis on science, technology, manufacturing and tourism. We know we have more work to do, he said in May.

American consumers are going to see higher prices on everyday goods, said Jay Pitter, president of the Canadian Manufacturers and Exporters association. In February, Trump signed an executive order outlining plans to slap tariffs on imported steel and aluminum, citing national security concerns. The country would be exempt if it negotiated a special agreement with the US government. Trump and Trudeau met in March for the first time since he was elected last year. They discussed trade but failed to reach any agreements. In May, Canadian Minister of Foreign Affairs Chrystia Freeland traveled to Washington to work out an exemption to Trump's tariffs. The meeting produced no resolution. On June 1, Canada, Mexico and the European Union were granted a temporary reprieve from US tariffs on imported steel and aluminum products until June 30, while talks continue. Tobe is worried that his business will suffer as American consumers pay more for goods because of higher prices brought on by tariffs. It's like we're getting stabbed in the back, he said. It's going to cost more jobs. The Canadian government estimates the move could reduce Canada's GDP by 0.2 per cent and cut about 1,000 jobs. It also believes it will see a $3 billion hit from American tariffs on imported steel products. It is very hard to measure the economic impact of these decisions, said Pitter. Steel prices have increased globally as demand has outstripped supply. A drop in worldwide production caused by the financial crisis in 2008 had put pressure on prices, but that started to change in 2016 with an upswing in activity, according to a report released Wednesday by the World Steel Association. Prices continued to surge last year and in early 2018. In Canada, steel consumption hit a high of 4 million tons in 2017, up from 3.5 million tons in 2012, according to Statistics Canada. The country's steel sector employs about 14,000 people directly. Another 53,000 jobs depend on the industry. The global demand for steel has also increased as countries seek to build infrastructure ahead of hosting events like next year's soccer World Cup and the 2020 Tokyo Olympics, according to analyst Robin Mills. It's not just Canada, said Mills. You're seeing it all around the world in different forms. Meanwhile, Trudeau is trying to diversify an economy that relies on oil and gas exports. His government has put a greater emphasis on science, technology, manufacturing and tourism. We know we have more work to do, he said in May.