A senior Canadian official said the federal government continues to analyze the impact of measures announced Tuesday by the White House, but at first blush “it’s not as bad as we thought it would be.”

Canada struck back at Trump on Tuesday with tariffs on about $20 billion worth of U.S. goods.

U.S. refineries rely on 4 million barrels of oil a day from Canada, and American farmers depend heavily on Canadian potash fertilizer.