Canada considers tariffs on U.S. goods in response to Trump's trade threat

Canada is considering retaliatory tariffs on U.S. goods in response to President-elect Donald Trump's threat to impose 25% tariffs on Canadian products. A senior official stated that Canada is preparing for various scenarios, but no decisions have been made yet. Trump's proposed tariffs are linked to concerns about illegal immigration and drug trafficking. Canadian officials argue that the situation at the Canadian border is not comparable to the southern border and emphasize their willingness to cooperate with the U.S. on these issues. Trade between Canada and the U.S. is significant, with nearly $3.6 billion in goods and services crossing the border daily. Canadian oil and electricity are crucial to U.S. imports, raising concerns about the impact of potential tariffs on energy prices.