TORONTO>> Canada’s Prime Minister Mark Carney said Thursday he will impose new tariffs on U.S. steel and aluminum imports on July 21 depending the progress of trade talks with U.S. President Donald Trump.

Carney, who met with Trump at the Group of Seven meetings in Alberta this week, reiterated that Canada and the U.S. “agreed to pursue negotiations toward a deal within the coming 30 days.”

“We will review our response as the negotiations progress,” Carney said.

He added: “In parallel, we must ... safeguard Canadian workers and businesses from the unjust U.S. tariffs. That’s why today we are announcing Canada will be introducing a series of countermeasures to protect Canadian steel and aluminum workers and producers.

“First, Canada will adjust its existing counter-tariffs on U.S. steel and aluminum products on July 21 to levels consistent with progress made in the broader trading agreement with the United States.”

Carney said Trump’s trade war is running the risk of a global recession.

“The world is in the middle of a trade war and several wars, actual wars, including wars that can have quite significant implications for commodity prices and global growth,” said Carney, who led the central banks of both Canada and the United Kingdom.

Trump has imposed 50% tariffs on steel and aluminum as well as 25% tariffs on autos. Trump is also charging a 10% tax on imports from most countries, though he could raise rates on July 9, after the 90-day negotiating period set by him would expire.

Canada and Mexico face separate tariffs of as much as 25% that Trump put into place under the auspices of stopping fentanyl smuggling, though some products are still protected under the 2020 U.S.-Mexico-Canada Agreement signed during Trump’s first term.

Canada is the largest foreign supplier of steel, aluminum and uranium to the U.S. and has 34 critical minerals and metals that the Pentagon is eager for.

Nearly $3.6 billion Canadian dollars ($2.6 billion) worth of goods and services cross the border each day. Canada is the top export destination for 36 U.S. states. “We need to stabilize the trading relationship with the United States. We need to have ready access to U.S. markets,” Carney said.