The Canadian flag is flown at a border crossing between Canada and U.S. in Rouses Point, N.Y., March 11. Reuters-Yonhap

TORONTO — Canada will announce Canadian $29.8 billion ($20.7 billion) in retaliatory tariffs in response to the 25 percent steel and aluminum tariffs that U.S. President Donald Trump has leveled, a senior Canadian government official said Wednesday.

The official spoke on condition of anonymity because they weren't authorized to speak before the announcement.

The European Union on Wednesday also announced retaliatory trade action with new duties on U.S. industrial and farm products, responding within hours to the Trump administration's increase in tariffs on all steel and aluminum imports to 25 percent.

Canada is the largest foreign supplier of steel and aluminum to the U.S. (AP)