Canada is already examining possible retaliatory tariffs on certain items from the United States should President-elect Donald Trump follow through on his threat to impose sweeping tariffs on Canadian products, a senior official said Wednesday.
In Canada, a government official said Canada is preparing for every eventuality and has started thinking about what items to target with tariffs in retaliation. The official stressed no decision has been made.
When Trump imposed higher tariffs during his first term in office, other countries responded with retaliatory tariffs of their own. Canada, for instance, announced billions of new duties in 2018 against the U.S. in a tit-for-tat response to new taxes on Canadian steel and aluminum.
Many of the U.S. products were chosen for their political rather than economic impact. For example, Canada imports $3 million worth of yogurt from the U.S. annually and most comes from one plant in Wisconsin, home state of then-House Speaker Paul Ryan. That product was hit with a 10% duty.
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