President Donald Trump said tariffs on some goods from Canada and Mexico planned for April 2 “could go up,” and would not predict whether the United States will have a recession in 2025.

In a big warning to Canada and Mexico, US President Donald Trump said tariffs on the United States' North American neighbours "could go up", but stressed that businesses will have clarity on the issue after April 2.

The recent tariffs imposed on goods from Canada, Mexico, and China are raising concerns about their impact on US consumers and the broader economy. S&P Global Ratings global chief economist Paul Gruenwald joins Wealth host Madison Mills to discuss how the tariffs will likely be passed onto US consumers.