Trump tested the waters on tariffs during his first four years in office. Almost immediately, “Trump hit a slew of countries with tariffs on steel and aluminum,” according to the New York Times, then “wielded those taxes as leverage against Canada and Mexico to renegotiate NAFTA.”

Donald Trump grabbed onto the idea of hitting Canada with tariffs almost immediately after November's election, and he hasn't let go since. The continued centrality of that country to the president’s tariff talk has been on full display during his first days in office,

Trump's new threat of tariffs on Canada and Mexico will hit far beyond autos and retail, with chemicals companies and freight rails key cross-border players.