Trump said in an Oval Office signing ceremony on Monday that his administration will impose a 25% tax on goods from Canada and Mexico that may come as soon as February 1 – a move that could raise prices for American consumers.

Canadian Prime Minister Justin Trudeau reiterated on Tuesday that his government is ready to respond to all scenarios if U.S. President Donald Trump imposes tariffs on Canada.

Canada Liberal Leadership Candidate Chrystia Freeland says Canada should respond now to President Donald Trump's threat of tariffs. She says a list of possible tariffs Canada could impose on the US should be published.