Donald Trump is threatening the harshest trade penalties on the North American continent in 95 years. He's the first major U.S. politician in 114 years to muse even semi-seriously about annexing Canada.

Earlier in the day, cabinet ministers were careful not to declare victory after Trump was sworn into office without mentioning Canada at all, and with no sign of the punishing tariffs he's been threatening since the November election.

We dodged a bullet,” said John McKay, a veteran member of the Canadian House of Commons, from the ruling Liberal Party. “We were pleased to have not been mentioned once.”

President Donald Trump said Monday that he expects to put 25% tariffs on Canada and Mexico starting on Feb. 1, while declining to flesh out his plans for taxing Chinese imports.

U.S. President Donald Trump will not impose his promised tariffs on Canada, Mexico or China on his first day in office, but he suggested that he could still hit Canada with tariffs as early as February.

Canada’s ambassador to Washington says Canada is prepared to buy more from the United States including its next fleet of submarines to appease President-elect Donald Trump's concerns about the U.S.

President Donald Trump did not immediately impose tariffs on Monday as previously promised but said he was thinking about imposing 25% duties on imports from Canada and Mexico on Feb. 1 over illegal immigrants and fentanyl crossing into the U.

Trump underscored his intention to use tariffs, a tax on foreign goods, as a tool of international economic policy and an increasingly vital source of government revenue.

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While much about the threatened tariffs is still unclear, experts predict they would be bad news for all three economies, with few winners.

Canadian officials are adopting a different tone after President Donald Trump ordered a study of the United States' trade relationship with Canada, pushing the threat of devastating tariffs down the road — temporarily.