Global policymakers and Wall Street analysts have been bracing for massive trade barriers from the new Trump administration. But it focused more on the domestic front in the first week in power, leaving the global trade landscape largely unchanged.

President Donald Trump says his 25% tariffs on Canada and Mexico are coming on Saturday. Trump also said he'll "probably” decide on Thursday night whether to include oil from those countries as part of his import taxes.

Steep tariffs on Mexico and Canada are set to go into effect on Saturday as President Trump threatens trade with America's neighbors unless they address illegal migration, drug trafficking, and "massive subsidies in the form of deficits.