Secretary Lutnick hedged his bets about the economic sanctions being leveled against Canada and Mexico from tomorrow—and refused to rule out a 25% import duty.

Read: Here are all the Trump tariffs hitting the economy in the coming weeks That’s likely to have an impact on the U.S., which imported around 6.28 million barrels per day of crude oil in 2022, more than the 3.

President Trump could still choose to pause the tariffs he is threatening to put on America’s largest trading partners Tuesday, but industries are preparing for the worst.