According to an anonymous White House official, Donald Trump plans to refrain from implementing new tariffs on his first day in office. Instead, he will focus on executive actions to reduce energy prices and inflation. The Wall Street Journal reported that Trump intends to declare a national energy emergency to increase electricity production and compete with China.
As noted by Canadian Finance Minister Dominic LeBlanc, the Canadian government is preparing for potential trade scenarios with the U.S. in response to Trump's decision to review trade policies before imposing tariffs. Prime Minister Justin Trudeau remains hopeful about the Canada-U.S. economic partnership and anticipates collaborating with Trump during his second term, underscoring the significance of their trade relationship.