Trump's Trade Tactics: Evaluation Over Tariffs?

President-elect Donald Trump plans to assess U.S.-Canada bilateral trade, opting not to impose tariffs immediately. A senior Canadian source revealed potential countermeasures worth C$150 billion if tariffs were applied. A U.S. official confirmed Trump will release a trade memo without new tariffs on his first office day.

President-elect Donald Trump is set to assess bilateral trade relations between the U.S. and Canada, marking a temporary relief from fears of immediate tariffs. According to a senior Canadian official, Trump's approach is more favorable than imposing tariffs, which were previously on the cards.

Canada previously indicated it could retaliate with countermeasures involving C$150 billion of U.S. goods if Trump executed a 25% tariff threat. This response highlighted the potential economic repercussions of such tariffs on bilateral trade.

A senior U.S. official disclosed that Trump's initial trade communications, expected on Monday, would not include new tariffs, quelling concerns about an aggressive start to his presidency.

(With inputs from agencies.)