President-elect Donald Trump's threatened tariffs could prompt Canada to pursue dollar-to-dollar retaliation or an export tax on oil and gas bound for the U.S.

Trudeau blasted Smith, reminding her that the federal government bought the Trans Mountain pipeline, which now has a C$34.5 billion price tag, giving Alberta its only route to export oil from Canada’s Pacific coast.

When President-elect Donald Trump recently floated the idea of annexing Canada, a key reason he gave was a claim that the United States was “losing $200 billion a year” to its northern neighbor.