MPs are hearing dire warnings about the potential impact of American tariffs on Canadian aluminum and steel and a looming threat of tariffs on automobiles.

U.S. President Donald Trump has extended the exemptions on steel and aluminum tariffs on Canada and other U.S. allies including Mexico and the European Union, according to reports. 

Policy makers and industrial stakeholders are keeping a keen eye south of the border watching for any indication that U.S. President Donald Trump will make the exemption offered to Canada and Mexico on March 8 a permanent thing - or at least, extend the temporary exemption.