‘SHOWDOWN’ Fuming Canada Threatens Multibillion-Dollar U.S. Trade War.

“Everything is on the table” if Donald Trump follows through on his tariff threats, says Trudeau.

Canada is preparing billions of dollars in retaliatory import taxes on American products if President-elect Donald Trump follows through on his tariff threats.

Outgoing Prime Minister Justin Trudeau said the potential retaliation would be spread across the whole of the U.S. and that “everything is on the table,” speaking on Wednesday at a meeting with provincial leaders in Ottawa.

Trump has previously threatened to use “economic force” and impose 25 percent tariffs on all Canadian imports, a threat which he has linked to the smuggling of fentanyl and illegal migration across the U.S.-Canada border.

Trump has also previously and repeatedly said it would be a “great idea” for Canada to become the 51st U.S. state, prompting Trudeau to retort that there is “not a snowball’s chance in hell” of that happening.

A blanket U.S. tariff on Canadian imports would hit Canada’s oil industry particularly hard since it exports the majority of its crude oil to the U.S., according to official statistics.

It would also potentially increase energy prices for Americans.

About 60 percent of the U.S.‘s crude oil supply comes from Canada, along with almost all of its natural gas, large amounts of its electricity imports, and uranium for nuclear power.

“[Tariffs] will mean higher gas prices, it will mean higher food prices, it will mean higher natural gas prices for heating people’s homes,” said Canada’s Energy Minister Jonathan Wilkinson, speaking to the Associated Press.

Orange juice is reported to be among the list of products that would be targeted in any Canadian response, which might also include toilets and steel products.

The choice of Florida’s most famous export is a symbolic one, perhaps designed to draw attention to Donald Trump and voters in one of his home states.

Canada only imports around 360 tons of the orange stuff annually, a drop in the ocean of the nearly three million tons that the U.S. produces annually.

Canada has previously imposed tariffs on yogurt from Wisconsin and whiskey from Kentucky.

Greenland does not want to be part of the U.S., but we are open for business

We are a highly skilled and rules-based market economy, and our strategic location is vital for North Atlantic maritime, aviation and space-based activities. We invite more American businesses to engage in the vast potential of our economy.

Rare earth elements are in abundance in Greenland and play a decisive role in the development of electric motors and components used in batteries and solar panels. Greenland possesses 39 of the 50 minerals that the United States has classified as critical to national security and economic stability. These minerals, which include rare earth elements as well as copper, zinc and nickel, are essential to modern technology.

Globally, the mining market for rare earth elements is dominated by China, which accounts for about two-thirds of the world’s production. This dominance creates a strategic vulnerability for many countries. Greenland can be a solution to this problem by diversifying the sources of these minerals.

We must find solutions to bridge the gap between capital, political ambitions and industry needs. If not, we risk that the minerals stay in the ground.

So, Greenland is asking mineral-importing countries to lend these mining projects a helping hand, for our mutual benefit. We have joined an international collaboration between mineral importing and exporting countries that aims to ensure a stable and responsible supply of critical minerals. In this partnership, we have found the United States to be a constructive and supportive companion.

Greenland has been collaborating with the U.S. State Department for several years to provide new knowledge about our critical minerals.

investors and major mining companies; and sharing know-how.

Greenland has high hopes of signing a new agreement with the United States as soon as possible. We are searching for ways to increase investments in our mining sector. Instruments such as direct investments, direct loans, loan guarantees or access to development banks would be of massive importance to help the projects get off the ground. Investments in infrastructure connected to the projects could also be of great value and help relieve some of the pressure in the first difficult years of a mining project’s lifespan. Often a project will need roads and a harbor, as the seaways are our primary means of transportation.

At the moment, companies in Canada and Britain own the most mining licenses in Greenland. They each hold 23 licenses. The United States holds just one. I am sure this picture can change. There are existing, upcoming and as yet unknown possibilities available for investments.

As our prime minister has stated clearly, Greenland belongs to the people of Greenland. We do not want to be part of the United States. We are not Danes, nor Americans. But we see ample opportunities to make a deal that could benefit both of our countries. The potential for developing the Greenlandic economy is enormous. We have high environmental standards, we have sound regulations that include public hearings and local involvement, and we have an amazing geological resource. And we invite the United States to join us with much more business cooperation.

By Naaja H. Nathanielsen

Naaja H. Nathanielsen is minister of business, trade, mineral resources, justice and gender equality in the government of Greenland.