We now have a 1/2  BIS central bankers' speeches  better sense than in January of the extremely wide range of possibilities: they include a borderadjustment tax, targeted tariffs on some products and countries, non-tariff barriers and even broader multilateral trade measures.
We do not know which of these will be enacted; their timing is uncertain; and each would affect the global economy and Canada through a different, complex set of channels. Take a look at Box 1 of the Report for a discussion of this.