Over the weekend, President Trump announced his intention to follow through with his tariff threat on key trading partners. Canada was to see a 25% tariff on goods exported to the United States, and a 10% tariff on energy resources. In response, the Canadian government was set to impose 25% tariffs on $30 billion dollars in goods imported from the US. These tariffs were ultimately averted, but the threat of future tariffs still looms over the North American economy. Joining the show today to unpack what this development means for global markets, and our integrated economies, is Fidelity Director of Global Macro, Jurrien Timmer.

Recorded on February 3, 2025.

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