Momentum is growing among President Trump’s advisers to place 25% tariffs on Mexico and Canada as soon as Saturday, bucking conventional wisdom in Washington and on Wall Street that he would back off the threatened levies as he has in the past in exchange for concessions.

U.S. President Donald Trump has threatened to put tariffs on all Canadian imports as soon as Feb. 1. Canada's automotive sector is especially nervous, as it employs around 120,000 people and exports tens of billions of dollars in vehicles and parts to the U.

President Donald Trump has once again stirred the waters of international trade, reiterating his threat to impose tariffs on Canada unless certain conditions are met. In a bold move, Trump suggested that Canada could avoid these tariffs by becoming a state within the United States.