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.

Canadian Prime Minister Justin Trudeau said Thursday that President-elect Donald Trump’s comments about turning Canada into the United States’ 51st state are just a distraction from the consequences of Trump’s tariff threats.

Canada imported $320 billion in U.S. goods in the first 11 months of 2024, nearly equaling the European Union’s $341 billion. A U.S. 25% tariff could reduce Canada’s GDP by up to 3.8%, with retaliatory tariffs amplifying the impact to as much as 5.

Canadian Minister of Foreign Affairs Melanie Joly announced her decision not to run for the leadership of the Liberal Party of Canada, citing the need to focus on addressing international challenges,

Canada is preparing to retaliate with an exhaustive list of tariffs on American goods if President-elect Trump follows through with his plans to add a steep 25% import tax on Canadian exports, people familiar with the matter told CNN.

Donald Trump’s increasingly strident approach to relations with Canada is provoking fear about the potential consequences north of the border and questions about just how serious the U.S. president-elect actually is.

The Canadian government isn't taking President-elect Donald Trump's tariff threats lying down and is planning to take retaliatory measures that will hit his home state of Florida. CTV News is reporting that the Canadian government is planning a series of retaliatory tariffs that would hit American-made orange juice,