Steven Miran, Trump’s head of the Council of Economic Advisers, wrote a paper defending tariffs and arguing that tariffs are borne by foreign producers and that the rise in the dollar reduces the cost to Americans.

New tariffs are likely coming in Trump’s second term. While companies owe these import taxes, consumers usually foot the bill.

When President-elect Donald Trump recently floated the idea of annexing Canada, a key reason he gave was a claim that the United States was “losing $200 billion a year” to its northern neighbor.

Prime Minister Justin Trudeau says if “push comes to shove” Canada is ready. Ottawa has a set of retaliatory measures set to drop on Monday if Trump takes action, a senior federal source told POLITICO on the condition of anonymity because they were not authorized to discuss the details publicly.

Outgoing Canadian Prime Minister Justin Trudeau has announced the formation of a Canada-U.S. relations council to support the federal government as it deals with incoming U.S. President Donald Trump’s