Minister of Foreign Affairs Melanie Joly says Canada is ready with its own set of retaliatory tariffs should the U.S. impose 25 per cent tariffs on Canadian goods tomorrow.

U.S. President Donald Trump today said there is no more room left to negotiate and that tariffs are coming on Canada and Mexico at midnight tonight.

He calls it “the incentive we’ve created, or the negative incentive, I mean it’s going to be very costly for people to take advantage of this country.”

Melanie Joly, who spoke with reporters today, was not convinced that the tariffs are coming tonight – but Canada is ready.

“If Trump is imposing tariffs, then we’re ready. We’re ready with $155 billion of tariffs, and we’re ready with a first tranche of tariffs, which is $30 billion, which is already known.”