American investment bank JPMorgan argued that the continuation of the tariffs imposed by President Donald Trump against Canada and Mexico could inflict severe damage on the economies of both countries, potentially leading to a recession.
On the other hand, Morgan Stanley also argued that their main case for the Mexican economy would shift towards recession if Donald Trump indeed stays on course with his tariff policies.
It is worth noting that Donald Trump imposed a 25% tariff on goods imported from Canada and Mexico, which came into effect last Saturday, prompting both countries to announce retaliatory measures against the United States and impose counter-tariffs starting tomorrow, Tuesday.
