Canada is preparing to strike back hard with retaliatory tariffs if Trump starts a trade war | Money [Video]

(CNN) — Canada is preparing to retaliate with an exhaustive list of tariffs on American goods if President-elect Donald Trump follows through with his plans to add a steep 25% import tax on Canadian goods, people familiar with the matter told CNN. The preparations show how raising tariffs could kick off a trade war that will ultimately raise prices on a number of consumer goods around the world.

Canadian officials are working on a list of dozens of American products that the United States exports to Canada, targeting items that both send a political message and inflict a reasonable amount of economic damage, two sources said.

Included in the list of items considered for tariffs are ceramic products, steel products, furniture, certain alcoholic beverages like Bourbon and Jack Daniels whiskey, orange juice and pet food, among other goods, the people familiar with the plans told CNN. American energy exports are also on …