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Bains declined to share specifics when asked about potential industry support in Canada or retaliatory actions against the U.S., however, he noted how Ottawa took several steps to respond to American steel and aluminum duties.

Earlier this summer, Ottawa applied retaliatory tariffs on $16.6-billion worth of U.S. imports of steel, aluminum and other products. It also announced a financial aid package for industries caught in the crossfire, including up to $2 billion in new funding and support for workers in steel, aluminum and manufacturing sectors.

Levies, however, on the critical auto industry would have far bigger impacts on Canada’s economy — and would likely call for a far greater response.

“I don’t want to get into the speculation game, all I can assure you is that we will continue to support the workers and we will continue to support the industry as we’ve done so in the past,” said Bains, who added that the government first needs to genuinely understand what the tariffs would look like and how they’re applied.

“We take nothing for granted, we’re doing our due diligence, we’re doing our homework.”

Photo by Chris Young/The Canadian Press

U.S. President Donald Trump has made repeated threats — including one late last week — that he would slap Canada with auto tariffs. In a tweet that appeared to reference NAFTA’s ongoing renegotiation, Trump wrote that the “deal with Mexico is coming along nicely” and that “Canada must wait.”

Trump then sent a warning to Ottawa: “Their Tariffs and Trade Barriers are far too high. Will tax cars if we can’t make a deal!”