Canada is drawing up plans for extensive tariffs against US products if Donald Trump follows through on his threat to put 25% levies on Canadian goods, according to people familiar with the matter.
Wendy Wagner, head of international trade & customs at Gowling WLG, talks about potential challenges facing the trade relationship between the United States and
This time, many of those same products would be hit again by Canadian counter-measures, along with items such as orange juice from Florida, where Trump and some Republican officials are based. But Trudeau’s government is also preparing to go much further if necessary, said the officials, speaking on condition they not be identified.
The US president-elect’s news conference on Tuesday, where he threatened the use of “economic force” against Canada and again suggested the country should be the 51st state, caused a strong reaction in the northern nation and inside the Trudeau government. Trump may not be able to annex Canada, but he can inflict severe damage on a bilateral trading relationship that is worth more than $900 billion in goods and services a year.
Retaliatory tariffs would also punish the Canadian economy, however, pushing up costs for households and businesses while they’re still recovering from an inflation shock.
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