Canada reviews potential tariffs on U.S. goods in response to Trump's trade threats

Canada is considering retaliatory tariffs on U.S. goods in response to President-elect Donald Trump's threat to impose 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 include a 25% tax on imports from Canada and Mexico, aimed at addressing issues related to drugs and migration. Canadian officials argue that linking Canada with Mexico is unfair and emphasize their willingness to cooperate with the U.S. on these matters. Prime Minister Justin Trudeau is convening a virtual meeting with provincial leaders to discuss trade strategies. Meanwhile, Mexico's President Claudia Sheinbaum is also preparing a list of potential retaliatory tariffs if necessary.