09:21 AM EST, 11/26/2024 (MT Newswires) -- Prime Minister Justin Trudeau and members of his cabinet are expected to face fresh questions today about Donald Trump vowing to impose a 25% tariff on all products from Canada and Mexico on his first day in office, if border issues aren't addressed, CTV News reports Tuesday.

According to a senior government source, Trudeau and Trump spoke on Monday night after the news broke. The official described the conversation as "good," and said on the call trade and border security were discussed, with Trudeau noting that the number of migrants who cross from Canada to the U.S. is far smaller than those who come through Mexico.

The two men vowed to stay in touch, the source said.

In a longer statement issued Monday night the chairs of the recently revived Canada-U.S. relations cabinet committee, Deputy Prime Minister and Finance Minister Chrystia Freeland and Public Safety Minister Dominic LeBlanc, said that Canada "places the highest priority on border security and the integrity of our shared border."

This pair also noted that Canada is "essential" to U.S. energy supply, saying last year 60% of crude oil imports came from Canada, and touting work already underway to "disrupt the scourge of the fentanyl coming from China and other countries."

Trudeau re-formed the special cabinet committee in response to Trump's win and it has been meeting for a few weeks to navigate top issues as flagged by the incoming administration, such as trade and the border.

Ministers who make up this panel have also spoken about the need for a renewed "Team Canada" approach, in the face of what could be a fresh round of high-stakes trade talks, and the prospect of retaliatory tariffs, as seen during the Trump-sparked NAFTA renegotiation.

Trudeau and his front bench are meeting for their weekly closed-door cabinet meeting on Parliament Hill Tuesday morning and are set to be asked a series of questions from reporters about next steps as they arrive.

The looming tariff imposition is also likely to be a leading issue raised in question period later this afternoon.

(Market Chatter news is derived from conversations with market professionals globally, and/or from other media sources. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)