McKercher said the language used by Trump in his tariff directive “gives the game away.” Essentially, by proposing 25 per cent tariffs on Canadian goods, except energy which was set at 10 per cent, Trump is revealing the country’s dependency on cheap Canadian energy and a concern about prices rising too high for Americans.

Amid warnings of price increases, Canada moved quickly to retaliate, China said it had planned countermeasures and Mexico said it would soon unveil its response.

President Trump ratified an executive order that pledged to impose a tariff of 25% on all goods from Canada, as well as a 10% tariff