The 25% import levy could go into place as soon as Feb. 1.

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.

President Donald Trump has once again stirred the waters of international trade, reiterating his threat to impose tariffs on Canada unless certain conditions are met. In a bold move, Trump suggested that Canada could avoid these tariffs by becoming a state within the United States.