Top Canadian ministers say Canada will be ready to retaliate after President Donald Trump said he was thinking of imposing a 25% tariff on Canada and Mexico on Feb. 1

Trump said in an Oval Office signing ceremony on Monday that his administration will impose a 25% tax on goods from Canada and Mexico that may come as soon as February 1 – a move that could raise prices for American consumers.

The focus on American prosperity and national security is the latest pivot by Canadian officials as the country tries to find its footing with the new Trump administration, and - more urgently - avert the threat of blanket 25% import tariffs imposed by the US, its largest trade partner and closest ally.