– US President-elect Donald Trump’s proposed tariffs on imports from Mexico and Canada may lead to an early renegotiation of the United States-Mexico-Canada Agreement (USMCA), with the US trade deficit with these countries rising to US$165.4 billion. The potential for retaliatory tariffs from Mexico could impact firms with significant trade imbalances, such as automakers, and lead to increased costs for companies like General Motors Co. and Toyota Motor Corp., which have substantial import values.

– Trump’s plan to impose a 100% tariff on BRICS nations if they...