Canada will announce new trade duties on some $21 billion-worth of U.S. goods in response to President Donald Trump implementing universal steel and aluminum tariffs Wednesday that were also applied to Canada.

Canada will impose retaliatory tariffs on U.S. imported goods worth C$29.8 billion ($20 billion) effective on Thursday in response to U.S. President Donald Trump's steel and aluminum tariffs, Canada's Finance Minister Dominic LeBlanc said.

Canadian officials on Wednesday announced 25% tariffs on $29.8 billion of U.S.-produced goods after the Trump administration imposed 25% tariffs on Canadian steel and aluminum sold in the United States.