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.

Canada’s premiers are urging Prime Minister Justin Trudeau to step up border security and defense spending to assuage US President-elect Donald Trump’s concerns, with the leader of the largest province calling the federal government “slow to react” and “stuck on its back foot.

One of the biggest consequences of a tariff on imports from Canada would be pricier lumber, though traders haven't flinched at Donald Trump's threat of 25% tariffs on goods that cross the northern border.