(Bloomberg) — Canada is examining the use of export taxes on major commodities it exports to the US — including uranium, oil and potash — if incoming President Donald Trump carries out his threat to impose broad tariffs.
Export levies would be a last resort for Canada, according to officials familiar with the discussions inside Prime Minister Justin Trudeau’s government. Retaliatory tariffs against US-made goods, and export controls on certain Canadian products, would be more likely to come first, said the people.
But commodity export taxes — which would drive up costs for US consumers, farmers and businesses — are a real option if Trump decides to start a full-scale trade war, said the officials, speaking on condition they not be identified.
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