Ottawa, eastern Ontario preparing for tariffs with Trump returning to presidency Monday

President-elect Donald Trump will be inaugurated as the 47th president of the United States on Monday. CTV's Natalie van Rooy gets reaction in Ottawa.

Ottawa and eastern Ontario businesses are bracing for the possibility of tariffs with U.S. president-elect Donald Trump returning to the White House today.

Trump will take the oath of office in a ceremony to begin his new term. The swearing-in is scheduled to begin at 12 p.m. ET.

The 47th president has pledged to sign a flurry of executive orders on his first day, including an across-the-board tariff of 25 per cent on all Canadian imports. It’s not clear how quickly they could go into effect, but businesses and the federal government say they are preparing for all possible outcomes.

Tom Neumann, owner of Newman Tools in Ottawa, sells more than 30,000 tool parts with half of his clients in the United States.

“Tariffs are bad for everybody,” Neumann told CTV News Ottawa on Friday.

“I’ll see what happens, if it’s just baloney, or if it’s if it’s really going to affect us because 25 per cent really affects businesses profoundly.”

Border town mayors have also said the tariffs could have a significant impact on cross-border travel and have warned of a potential surge of asylum seekers, with mass-deportations being a part of Trump’s promises early in his next term.

“I think it’s something we’ll likely see once the tariffs are in place. I think it’s too early to really see that right now, but it’s something that we anticipate happening,” said Cornwall Mayor Justin Towndale last week.

Economic experts have warned of the devastating effects the measure could have on both countries, especially if Canada and the United States enter a trade war. Ontario Premier Doug Ford has warned it could cost the province up to 500,000 jobs.

Trump has said he intends to use tariffs for addressing perceived unfair trade practices, to raise revenue for the federal budget and as a negotiating tactic.

The Canadian government has said that they are ready to take on Trump and levy countermeasures, should Trump follow through with his threat. The government is readying a three-phased response it could begin rolling out as early as inauguration day, depending on what Trump does.

The United States is Canada’s largest trading partner, with the annual trade relationship between the two countries adding up to about $1.3 trillion. Canada is also the largest export market for 36 U.S. states.

The inauguration is scheduled to take place at the U.S. Capitol Building in Washington, D.C. and will be streamed live on CTV News' digital platforms and broadcast on CTV and CTV News Channel.

With files from CTV News Ottawa’s Natalie van Rooy, Dave Charbonneau and CTVNews.ca.

This story will be updated.