In the run up to the election Trump, who described tariffs as "the most beautiful word in the dictionary," vowed hikes as high as 60 percent on Chinese goods, saying this would not only protect domestic industries but serve as critical tax revenue. Economists have pointed out such a move would raise costs for American consumers.

Canadian inflation cooled to 1.8% in December, but with the threat of US tariffs on the horizon, are more BoC rate cuts ahead? Robert Both, Senior Macro Strategist, TD Securities, discusses.