U.S. duties could nudge the European Union toward protectionist measures and away from free trade.

Bankers are rushing to get financing deals done ahead of the US president’s inauguration. Lenders are swamping borrowers with questions and cutting risk.

Canada's foreign minister on Friday warned Americans they will be paying a “Trump tariff tax” if President-elect Donald Trump follows through with a threat to impose a 25% tariff on all Canadian goods.

President-elect Trump has expressed support for a negotiated solution with Iran on all outstanding issues, while Iranian President Masoud Pezeshkian has stated that Tehran is ready for constructive dialogue with the West about nuclear power and willingness to improve relations with the United States.

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.

CBC's chief political correspondent Rosemary Barton speaks with former U.S. secretary of commerce Wilbur Ross about U.S. president-elect Donald Trump’s proposed tariffs, and what is the best response is from Canada to the threat.

Canada on Friday (Jan 17) issued a stark warning to the United States, promising that the nation would be hit with a "Trump tariffs tax" if US president-elect Donald Trump follows through on his plan to impose 25 per cent tariffs on Canadian imports.

Canada is prepared to respond to US trade tariffs if President Donald Trump follows through on his threats immediately after his inauguration, Reuters reports. If Trump proceeds with his threats, it could severely impact the economy,