The EU plans tariffs on U.S. exports running the gamut from canoes to "manicure or pedicure preparations".
It calls for Trudeau government to impose retaliatory measures and ensure that steel and aluminum are not dumped into Canada from third countries.
Business leaders in Canada and the US predicted dire economic consequences as result of the decision, which was derided on both sides of the Atlantic.More news: Tamil actress Sangeetha allegedly arrested for prostitution in Chennai
On Saturday, a smiling Mr. Mnuchin played down the tension within the room and the tone of the G7's final message. They report a really high surplus on trade with us. "I was not part of that statement, but there was a unanimous consensus that they do have that concern".
U.S. Commerce Secretary Wilbur Ross said last month that following a conversation with President Donald Trump, he was launching an investigation into whether automobile imports are hurting United States national security.
Mnuchin faced an earful of complaints at the meeting as G7 officials vocalized frustration over the USA action, which was seen as alienating historical trading partners.
The US has renewed a threat to hike tariffs on $50 billion (£37 billion) of Chinese high-tech goods in response to American complaints Beijing steals or pressures foreign companies to hand over technology.More news: China warns USA against trade sanctions as talks end
Canada retaliated with plans to levy tariff "countermeasures" of its own on up to $16.6 billion worth of imports of steel, aluminum and other products from the U.S.
Republicans in Congress called the tariffs "dumb" and "damaging" after the White House announcement, and a United States retail industry trade group said they "will raise the cost of doing business for thousands of American companies, including retailers, and will stifle efforts to expand and create jobs".
"It has been a tense and tough G7 - I would say it's been far more a G6 plus one than a G7", said Le Maire, who called the tariffs "unjustified". "That Canada could be considered a national security threat to the United States is inconceivable". "Do timber and lumber in USA?" "That's not going to happen", said EU Commission President Jean-Claude Juncker.
Trade Commissioner Cecilia Malmstrom added that the USA, through months of negotiations, threatened steep tariffs in order to obtain trade concessions from the EU.
Stock prices slumped amid fears of a trade war, with the Dow Jones Industrial Average falling almost 252 points, or 1 percent, to 24,415.84.More news: Giuliani says legal battle would ensue if Mueller subpoenas President Trump