Canada weighs retaliatory tariffs on U.S. goods after Trump's tariff 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 has not made any final decisions. Trump's proposed tariffs are aimed at addressing issues related to drugs and migration. This situation echoes past instances when Canada responded with tariffs during Trump's first term, notably in 2018, when it imposed duties on U.S. steel and aluminum. In that earlier response, Canada targeted specific U.S. products for political reasons, such as yogurt from Wisconsin and whiskey from Kentucky. The current discussions indicate Canada is again looking at potential items for retaliation.