In Ottawa on February 6, Bank of Canada Governor Tiff Macklem highlighted the impact of a policy shift in the U.S., stating that President Donald Trump's tariff threats were already affecting business and households. Macklem expressed concerns about the uncertainty caused by these threats, emphasizing that they were influencing confidence levels in Canada and Mexico. Speaking virtually at a conference in Mexico City, Macklem noted, "The longer this uncertainty lingers, the greater the impact it will have on economic activity in our countries."