Wall St gears up for fallout from likely tariffs on Canada and Mexico

For the duration of the second Trump administration, US GDP would be around $200 billion lower than it would have been without the tariffs,

wrote senior researchers Warwick J. McKibbin and Marcus Noland in mid-January

We don't think it's going to happen really, ... if it happens, we also have our plan."

On Wednesday as the February 1 deadline drew nearer, Sheinbaum said ... adding,

It's important to always keep a cool head and refer to signed agreements, beyond actual speeches,

she announced

If the American administration moves forward with its plans on tariffs, it will first and foremost hurt American citizens and American consumers, but it will also hurt Canadians,

Trudeau, who is soon to depart as prime minister, said in January

Secretary of State Marco Rubio met with Canadian Foreign Affairs Minister Mélanie Joly today in Washington, D.C. to discuss how the United States and Canada can collaborate on shared global challenges, such as secure borders and energy security. Secretary Rubio commended Canada for confronting the CCP's coercive and unfair economic practices. The Secretary and Minister Joly also reaffirmed cooperation to enhance safety and prosperity for both countries."

The U.S. Department of State said in a statement after the meeting

All oil considerations are in the shadow of what tariffs might be announced on Canada and Mexico,

said John Evans, an analyst at oil broker PVM

A price war with the U.S. would involve OPEC+ producers maximising their output to undercut prices and drive shale production into decline,

analysts at BMI, a Fitch Group division, said in a note

We may or may not,

Trump told reporters Thursday in the Oval Office about tariffing oil from Canada and Mexico