Canadian officials have not produced analyses outlining what would happen to the economy should the Trump administration either decline to renew or terminate the existing U.S.-Mexico-Canada agreement.

How this affects you

A complete breakdown in trade talks could lead to a peak-to-trough drop in Canada's gross domestic product of nearly 2%, or roughly $47 billion, and prompt the central bank to cut interest rates by a half-percentage point, according to a Bank of Nova Scotia report.