Media reported Canada's willingness to take action against Trump's possible duties

Canada is preparing retaliatory monetary levies on U.S. products if President-elect Donald Trump follows through on his threats to impose 25 percent duties on Canadian goods. This was reported by Bloomberg news agency on January 10, citing sources.

"The draft plan of retaliatory trade measures goes far beyond the narrow list of goods made in the United States, on which retaliatory duties were imposed during the 2018 dispute," the publication writes.

It is specified that trade duties on American products will be imposed on a "dollar-for-dollar" basis, which implies the introduction of interest rates similar to those that Trump will impose against Canadian products.

The agency reports that the last measure that the Canadian government may go for would be the imposition of duties on imports of U.S. energy products.

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On December 10, Canadian Prime Minister Justin Trudeau said that Ottawa would retaliate if Trump imposes 25 percent duties on all of the country's goods. Trudeau called such measures unfair, noting that the country is looking for ways to respond.

Earlier, on December 3, Trump said during a meeting with Trudeau that Canada could become the 51st state of the United States if Ottawa fails to address the problem of illegal migration and drug smuggling. The President-elect of the United States noted that on the day of his inauguration, January 20, he will impose import duties of 25% on all Canadian goods if Ottawa fails to fundamentally change the situation with migration across the Canadian border.