Canada prepares response to potential U.S. tariffs under Trump administration

Canada is facing a potential 25% tariff on its goods from U.S. president-elect Donald Trump. In response, trade experts suggest Canada could retaliate by targeting iconic U.S. products that resonate with Trump's supporters, such as agricultural goods. Previous retaliatory measures in 2018 included tariffs on U.S. items like bourbon and ketchup. Canada’s Finance Minister Chrystia Freeland noted that past responses were effective, but she did not confirm if similar actions would be taken this time. Experts emphasize the importance of maintaining communication with U.S. stakeholders to mitigate the impact of tariffs. They also suggest Canada could explore strategic partnerships, such as energy deals, to appeal to U.S. interests rather than solely relying on retaliatory tariffs.