The Trudeau government and regional leaders have put into place a retaliation strategy that's ready to go as leaders call for a national buy-Canadian response to President Donald Trump's tariff plans.

Chrystia Freeland, the former finance minister who is running to replace Justin Trudeau as Canada's prime minister, says her country needs to release a "retaliation list" of goods the country would target if U.

Trump was quoted saying his team was thinking of tariffs around 25% which could be announced on Feb. 1 but offered no other specifics.

The government is preparing for the possibility that the incoming U.S. administration will impose high tariffs on Canadian goods, setting the close allies up for a showdown.

President Donald Trump's threats to impose punishing tariffs on Canada and Mexico may be part of a strategy to gain leverage ahead of new negotiations on a regional trade agreement, experts said.

Donald Trump is “very serious” about unleashing unilateral tariffs on neighbors Mexico and Canada without even giving them a chance to negotiate. Some of Trump’s closest advisors said the dramatic action could take place within days.