Bank of Canada governor Tiff Macklem said following Wednesday's announcement that there is not much central bankers can do to offset the economic consequences of a trade war.

Having already forced Colombia to accept deportees by threatening a 25% tariff, President Donald Trump is readying the same move against Canada and Mexico as soon as Saturday. But this time, the stakes are higher and many economists surveying the possible damage doubt Trump would be comfortable with what they say would be self-inflicted wounds from the tariffs.

Ontario premier Doug Ford has triggered an early election in the province, saying he needs a strong mandate to take on the tariff threat.

Chrystia Freeland, the former finance minister who is running to replace Justin Trudeau as Canada’s prime minister, said Monday Canada needs to release a “retaliation list” of goods the country