Canada imported $320 billion in U.S. goods in the first 11 months of 2024, nearly equaling the European Union’s $341 billion. A U.S. 25% tariff could reduce Canada’s GDP by up to 3.8%, with retaliatory tariffs amplifying the impact to as much as 5.

Canada is looking at putting retaliatory tariffs on American orange juice, toilets and some steel products if U.S. President-elect Donald Trump follows through with his threat to impose 25% tariffs on all Canadian products,

Donald Trump said this week he will use economic coercion to pressure Canada to become the nation’s 51st state.