President Donald Trump’s tariffs only make goods more expensive for Americans, said Canada’s Trade Minister Mary Ng, reiterating a vow to retaliate if the country’s largest trading partner goes forward with import duties.

Another reason why Trump’s logic may not work is the US dollar exchange rate. The dollar has soared in recent months, especially when Trump has spoken about tariffs, rising more than 5% against the euro since the election. These moves weaken the competitiveness of American manufacturers on global markets.

President Trump said Tuesday that he could impose hefty tariffs on automobile imports, but said he would have more to say in early April. "I probably will tell you that on April 2, but it'll be in the neighborhood of 25%,