Alcoa Corp., the largest US aluminum producer, said tariffs on imports from Canada cost it $115 million in the second quarter, showing how US President Donald Trump’s trade agenda has affected the industry.

Trump threatened to escalate tariffs beyond 35% if Canada opts to retaliate with tariffs on U.S. goods. Canadian goods are also subject to sector-specific tariffs, such as 50% levies on steel and aluminum as well as 25% tariffs on non-USMCA compliant autos and auto parts.