Prime Minister Justin Trudeau said that if President-elect Donald Trump follows through on this threat to impose tariffs on Canadian products, he would be raising prices and hurting American businesses.

Canada is seriously considering imposing its own tax on the United States if the incoming Trump administration slaps tariffs on exports from north of the border. The northern neighbor is weighing retaliatory action against the U.

Mexico and Canada are the United States’ top two trading partners, accounting for nearly 30% of trade volumes.