Canada could impose countermeasures on up to C$150 billion worth of U.S. imports if President-elect Donald Trump puts tariffs on Canadian goods and services, a source familiar with the matter said on Wednesday.

Trump's proposed move would be crippling for the economy, given Canada sends 75% of all goods and services exports to the United States. "Nothing can be off the table if the U.S. continues to choose to move forward with these punishing tariffs," Trudeau said after meeting the premiers of the 10 provinces to discuss potential responses.

Outgoing Canadian Prime Minister Justin Trudeau says that “nothing is off the table” when it comes to responding to proposed tariffs by U.S.