Canadian leaders gathered to strategize on how the country will respond to potential tariffs from incoming U.S. President Donald Trump, with Prime Minister Justin Trudeau warning that "nothing is off the table." 

Trump has threatened to hit Canada with a 25% levy on all imports into the U.S., even going so far as to suggest that he would use economic pressure to force Canada to join the U.S. as the 51st state. According to the Associated Press, Trudeau and Canada's provincial and territorial premiers met for five hours on January 15, where they discussed how they would coordinate efforts to manage the impacts of U.S. tariffs, as well as how they might retaliate in kind.

"We have to respond to the challenge we’re facing," Trudeau said after the meeting. "We also have to make sure the burden is shared across the country." Sporting a hat that read "Canada Is Not For Sale," Ontario Premier Doug Ford added that Canada needs to "send a message" to the U.S., and that retaliatory tariffs "need to be hard."

Canada accounts for around 65% of all crude oil, and 85% of lumber imported into the U.S., along with more than $4 billion worth of electricity each year. Ford has previously threatened to cut off energy exports from his province — which provides power to an estimated 1.5 million U.S. homes in the Midwest — if Trump follows through with his threats to impose tariffs.

In the wake of the January 15 meeting, Trudeau's office also announced the formation of a new council on Canada-U.S. relations, made up of current and former leaders from Canada's government and business community.