U.S. President Donald Trump on Tuesday ramped up the burgeoning trade war with Canada, vowing to double tariffs set to take effect within hours on all imported steel and aluminum products from America's northern neighbor to 50% - although he later said he would likely lower them after Canadian officials agreed to talks.

It will be part "victory lap" for Trump's early support of the industry, according to one source familiar with the planning of the closed-door event.

U.S. President Donald Trumphosted top oil executives at the White House on Wednesday as he charted plans to boost domestic energy production in the midst of falling crude prices and looming trade wars.