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.

Canadian Prime Minister Justin Trudeau said Friday that U.S. President-elect Donald Trump is serious about a threat to impose stiff import tariffs on Canadian imports and warned they would hurt both economies.