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.

US motorists should brace for a hike in gasoline prices under the incoming Trump administration plans to slap tariffs on imports of products from Canada and Mexico.

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.