The Canadian government on Tuesday will lay out a slate of retaliatory trade moves in response to President Donald Trump’s latest wave of tariffs.

Canada’s finance minister and other senior officials will make the announcement at an event in Ottawa, Ontario at 11 a.m. ET, according to the nation’s finance ministry.

The announcement comes after the United States hit scores of Canadian products with new 50% tariffs that went into effect early Saturday. The new levies followed weeks of trade negotiations broke down, pl the longtime allies on unfamiliar footing.

Prime Minister Mark Carney said he pulled the plug on a deal late Friday only after Washington proposed “unfair” and “uneconomic” terms at the last minute.

“We could not accept what the U.S. had offered, nor could we give what they asked,” said Carney.

American officials refuted Carney’s account of why the talks collapsed. U.S. Trade Representative Jamieson Greer said Monday that he had “sought to accommodate the Canadians by … cutting tariffs in half on steel, on aluminum, and extensively reducing them on, on autos and even on things like, like softwood lumber.”

“They simply wanted more,” Greer told CNBC.

Carney initially vowed to retaliate “dollar-for-dollar” on Trump’s weekend tariffs. But on Monday he suggested Ottawa might take a more nuanced approach.

The “American economy is much, much bigger,” Carney said, so any Canadian retaliation would likely be “more targeted” than sweeping, according to a translation of his remarks by the Canadian Broadcasting Corporation.

Canada’s plan for retaliation against Washington comes as Trump and Canadian officials traded dozens of insults over the past few days.

Ontario Premier Doug Ford told a Canadian radio show Monday that Trump could “kiss my a**.”

“We’re going to go at him full steam,” said Ford, who has backed Carney’s response to Trump’s tariffs.

Trump wasted little time responding to what he called “lots of ‘bluster’ from Doug Ford.”

“Someone should get these clowns to ‘fall in line’ or, the consequences for Canada will be far WORSE!” Trump wrote on social media.

Within hours, Trump threatened to impose a second wave of 50% tariffs on Canadian autos and steel.

Ford later called the president the “king of bankruptcies.” “I’m not going to take the bait,” said Ford. “This guy’s a loser.”

On Tuesday morning, Trump ramped up his rhetoric against Ottawa once again, threatening to rename Lake Ontario “Lake America.”

Trump and Ford have a history of getting under each other’s skin. In 2025, Ford’s Ontario ran a TV ad during the MLB World Series broadcast.

The ad, which Ford also posted on X, opened with a clip of former U.S. President Ronald Reagan, a Republican.

“When someone says, ‘Let’s impose tariffs on foreign imports,’ it looks like they’re doing the patriotic thing by protecting American products and jobs, and sometimes for a short while it works, but only for a short time,” Reagan says in the clip. “But over the long run, such trade barriers hurt every American worker and consumer.”

The ad incensed Trump, who terminated trade talks with Canada shortly afterwards. He also threatened to impose an additional 10% tariff on Canadian goods, but did not follow through at the time.

The ad was eventually pulled down after Ford said he had achieved his goal of starting a “conversation.”