Investing.com– Canada has drawn up a preliminary list of US goods valued at C$150 billion ($105 billion) for potential tariffs if President-elect Donald Trump imposes tariffs on Canadian products, Bloomberg reported Thursday, citing a source familiar with the matter. .
The list, while subject to expansion, underscores Canada’s readiness to respond aggressively if such protectionist measures are introduced.
The potential move is reminiscent of Canada’s 2018 countermeasures against US steel and aluminum tariffs, where targeted levies were placed on products such as whiskey and washing machines to increase political pressure. At the time, Canadian tariffs affected about C$6.6 billion in U.S. exports, a fraction of the proposed C$150 billion in the current draft.
The scale of the retaliation now represents nearly a third of Canada’s C$487 billion in annual U.S. imports, according to a Bloomberg report.
After winning the election, Donald Trump promised to sign an executive order imposing 25% tariffs on all products coming into the US from Mexico and Canada.
Reuters also reported that Canada has drawn up a list of targets but will hold public consultations before taking action, citing a source.
Canada’s countermeasures would be divided into three groups. If Trump does not go ahead with tariffs, Canada would immediately target a small group of goods, including Florida orange juice, according to a Reuters report.
Prime Minister Justin Trudeau has called a meeting with provincial leaders in Ottawa to address US trade threats and strengthen a unified national response, according to reports.
Alberta Premier Danielle Smith withheld full support, opposing proposals such as energy export taxes or caps, measures she called “destructive federal policy,” according to a Bloomberg report. Alberta is key to Canada-US energy trade, exporting more than half of US imports.
Ontario Premier Doug Ford (NYSE: ) , a vocal proponent of retaliatory tariffs, emphasized unity, asserting, “You can’t let somebody hit you over the head with a sledgehammer without hitting them twice as hard.” Ford also highlighted Ontario’s significant share of the trade, as the province is the anchor of Canada’s auto industry, Bloomberg reported.
