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.

President Donald Trump's threats to impose punishing tariffs on Canada and Mexico may be part of a strategy to gain leverage ahead of new negotiations on a regional trade agreement, experts said.

U.S. President Donald Trump has threatened to put tariffs on all Canadian imports as soon as Feb. 1. Canada's automotive sector is especially nervous, as it employs around 120,000 people and exports tens of billions of dollars in vehicles and parts to the U.