President Joe Biden criticized President-elect Donald Trump's announcement that he will implement 25% tariffs on Canada and Mexico, saying that the comments were "counterproductive."

A full-blown trade war between the U.S. and Canada could lead to a recession in both countries, economist says.

A government official says Canada is already examining possible retaliatory tariffs on certain items from the United States should President-elect Donald Trump follow through on his threat to impose sweeping tariffs on Canadian products.