Canada is preparing to retaliate with an exhaustive list of tariffs on American goods if President-elect Trump follows through with his plans to add a steep 25% import tax on Canadian exports, people familiar with the matter told CNN.

Canadian CEOs are being asked for feedback as Canada plans to levy a tranche of retaliatory tariffs against the United States if President-elect Donald Trump makes good on his threat to apply 25% tariffs against Ottawa.

The Canadian government’s draft plans for trade retaliation go well beyond the narrow list of U.S.-made items on which it placed counter-tariffs during a 2018 dispute, according to government officials.

Canada is considering retaliatory tariffs on US goods like orange juice, ceramics, and steel in response to Trump's 25% tax threat, aiming to target key products while minimizing impact on Canadian consumers.

United States president-elect Donald Trump may declare a national emergency in order to turn his threat to slap Canada with 25 per cent across-the-board tariffs into a reality.

The items under Canada's consideration include ceramics, steel and furniture, etc. US energy exports could be targeted as a ‘last resort’, officials said.