Finance Minister Dominic LeBlanc says Donald Trump's suggestion that he will impose sweeping tariffs on Canada on Feb. 1 is "nothing new," and insists Canada has plans ready for several possible scenarios.

Finance Minister Dominic LeBlanc said Canada is "absolutely" prepared if President Donald Trump levies 25 per cent tariffs against Canada next month. Ottawa has potential response scenarios at the ready,

On the second floor of the Château Montebello’s lobby, there are framed photographs commemorating the visits of Ronald Reagan in 1981 for a G7 summit and George W. Bush for a meeting of North American leaders in 2007.

Canada's outgoing prime minister and the leader of the country's oil rich province of Alberta are confident Canada can avoid the 25% tariffs President Donald Trump says he will impose on Canada and Mexico on Feb.

The leader of Canada’s most populous province says he will be calling an election in Ontario because he says he needs a mandate to fight U.S.

Mr Trump had threatened to impose sweeping tariffs on Canada, Mexico and other trading partners. Still, Mr Trump pledged in his inaugural address that tariffs would be coming and said foreign countries would be paying the trade penalties, even though those taxes are currently paid by domestic importers and often passed along to consumers.

President Donald Trump said Monday that he expects to put 25% tariffs on Canada and Mexico starting on Feb. 1, while declining to flesh out his plans for taxing Chinese imports.

Canada is prepared to impose retaliatory tariffs on the U.S. if Trump eventually moves ahead with any trade action. Officials have already drawn up a plan that will levy immediate tariffs on $37-billion worth of American goods if Trump moves against Canada.

Several chafed at his plans as President Trump enacted immigration measures affecting their countries and vowed to impose tariffs on Mexico and Canada.