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.

The Mexican peso depreciated in international trade after U.S President Donald Trump announced he would impose tariffs on Colombia, reviving concerns about his trade policy. The currency, one of the most liquid currencies globally,

While much about the threatened tariffs is still unclear, experts predict they would be bad news for all three economies, with few winners.