TORONTO — Roughly $900 billion in annual trade between Canada and the United States — and with it, traditionally chummy bilateral ties — is on the brink of upheaval, with President Donald Trump threatening to impose sweeping tariffs on Canada as early as this weekend.

An across-the-board 25 per cent tariff, experts says, would be devastating to the Canadian economy largely due to an anticipated knock-on decline in the value of the loonie.

Any Canadian response to U.S. tariffs will be regionally fair and equitable and not single out Alberta, Canada's main oil-producing province, Canada's Energy and Natural Resources Minister Jonathan Wilkinson said on Wednesday.