• Source:JND
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Canada has issued a warning to the US after President-elect Donald Trump's constant threats to the former over increasing tariffs. Canadian Foreign Minister Melanie Joly on Friday said that if the US president-elect raises customs duties on Canadian products, Americans will face a "Trump tariffs tax.

"This would be the biggest trade war between Canada and the US in decades. The Americans would be starting a trade war against us. We are ready to put maximum pressure," said Joly at a press conference in Washington, according to AFP.

Given that Canada exports 75 per cent of its goods and services to the US, tariffs could have a crippling impact, with Canadian officials warning of the significant harm they would cause to the US economy.

"We have a series of measures that are already prepared, certainly, tariffs linked to imports. If the President goes ahead on Monday, we will be ready," Joly said to reporters on Friday after talks in Washington aimed at averting tariffs. "And we are ready for a second round and we are ready for a third round," she stated.

If Trump follows through on his threat, Canada would swiftly impose tariffs on a select group of products, including orange juice from Florida, where Trump resides, according to a source familiar with the situation on Wednesday.

Canada has prepared a more extensive list of potential targets but would first hold public consultations before taking action, according to a source. The source also mentioned that the scale of Canada’s response would depend on Trump’s actions. Canada could impose countermeasures on up to C$150 billion ($105 billion) worth of US imports.

Energy and Natural Resources Minister Jonathan Wilkinson stated on Thursday that Canada might also impose export tariffs on critical minerals.

Trump has indicated his plan to impose a 25 per cent tariff on Canada to pressure the country into tightening its border security to prevent illegal migration and reduce fentanyl smuggling, a move that could breach a free-trade agreement. In response, Canada unveiled a C$1.3 billion ($909 million) border security initiative. Prime Minister Justin Trudeau has pointed out that less than 1% of irregular migrants and less than 1% of fentanyl entering the US come from Canada.

"If push comes to shove, we will be strong and unequivocal in our defense of Canada and Canadians," Trudeau said on Friday at a meeting of his government's newly convened council on Canada-US relations.