Paperboard manufacturer RYAM has confirmed it is closing its Témiscaming facility as a result of U.S. tariffs.

The United States is set to impose 50% tariffs on $20 billion worth of Canadian products early Saturday after last-ditch negotiations failed to resolve the latest strain in already tense relations between the historic allies.

Canada’s retaliatory tariffs hit roughly 700 American products worth $20 billion per year. 50% after Canada retaliates.

Canadian government officials said they are also providing aid for workers and businesses that could be hurt by U.S.-imposed tariffs.

President Donald Trump says he is considering changing the name of Lake Ontario to “Lake America” as the trade war between the United States and Canada intensifies.

"Our dollar-for-dollar, rate-for-rate counter-tariffs as well as a multibillion-dollar support package will protect workers, farmers, families, and businesses," Canada's Finance Minister François-Philippe Champagne said.

Canadian officials said the tariffs set to be imposed on more than 800 U.S. imports are "strategic" and designed to target some states.

Political strategists warned that the recent trade dispute between the U.S. and Canada involving new tariffs will likely harm Indiana's consumers and producers.

Canada has a number of arrows in its quiver as it prepares to retaliate against the United States, and they could land hit American consumers and businesses.

Trump’s “Lake America” order marks the latest escalation in US-Canada tensions, amid a wider dispute over tariffs, trade negotiations, sovereignty, border security and Washington’s demands from Ottawa.