Trudeau on Monday confirmed that he would remain in office as both Liberal Party leader and prime minister until a replacement is selected, meaning he will lead Canada during the early months of Donald Trump’s presidency,

The core message is clear: we make things together. Almost two-thirds of Canadian exports to the US and half of US exports to Canada are intermediate inputs in integrated supply chains. Tariffs will reduce GDP and increase consumer prices in both countries. When Canada retaliates on US exports to Canada—as it will—the impacts will be harsher.