TORONTO (AP) — Canadian Prime Minister Justin Trudeau said Friday that if President-elect Donald Trump follows through on this threat to impose sweeping tariffs on Canadian products, he would be raising prices for Americans and hurting American business.

A full-blown trade war between the U.S. and Canada could lead to a recession in both countries, economist says.

Mexico and Canada are the United States’ top two trading partners, accounting for nearly 30% of trade volumes.