Donald Trump is “very serious” about unleashing unilateral tariffs on neighbors Mexico and Canada without even giving them a chance to negotiate. Some of Trump’s closest advisors said the dramatic action could take place within days.
If he were to introduce tariffs, which could be as high as 25 percent, some people fear it could lead to a global economic crisis and spark a recession.
The president’s closest allies in Congress and serving under his administration have called for a ‘tariff-first-talk-second approach,’ the Wall Street Journal reported on Monday, putting banks and businesses across North America on high alert.