Canada is preparing billions of dollars in retaliatory import taxes on American products if President-elect Donald Trump follows through on his tariff threats. Outgoing Prime Minister Justin Trudeau said the potential retaliation would be spread across the whole of the U.

Should President-elect Donald Trump follow through on his promise to impose a new 25% tariff on goods imported from Canada, the United States' northern neighbor has vowed to retaliate in a trade war that could prove costly for American consumers.