Canada Prepares Retaliatory Tariffs Against U.S.

Canadian Prime Minister Justin Trudeau is preparing for a potential trade conflict with U.S. President-elect Donald Trump, who has threatened a 25% tariff on all Canadian imports. In a meeting with provincial and territorial leaders, Trudeau outlined plans for retaliatory tariffs targeting approximately CAD 150 billion (USD 105 billion) worth of U.S. goods, emphasizing a unified response across Canada. He warned that such tariffs would ultimately raise prices for U.S. consumers and harm both economies. Trudeau stated that 'nothing is off the table' regarding Canada's response, and the premiers committed to support sectors affected by these measures. Notably, Alberta’s Premier Danielle Smith did not sign a joint statement expressing concerns about the impact on Alberta's oil exports. The Canadian leadership plans to meet weekly to strategize ahead of Trump's inauguration on January 20.