The Financial Post reports in its Wednesday, Nov. 27, edition that economists warn that Canada's economy could face significant challenges if U.S. president-elect Donald Trump implements a 25-per-cent tariff on Canadian and Mexican imports. The Post's Jordan Gowling writes that Desjardins Group economist Jimmy Jean suggests this could lead to a recession in 2025. The Canadian Chamber of Commerce previously estimated a 10-per-cent tariff could cost the Canadian economy 0.9 to 1 per cent of GDP, reducing annual income by $1,100 per person. Following Mr. Trump's announcement, University of Calgary professor Trevor Tombe updated his forecast, predicting a 2.6-per-cent real GDP hit from the proposed 25-per-cent tariff, equating to a $2,000 loss per person. Conference Board of Canada economist Pedro Antunes said: "About 60 per cent of its oil imports are from Canada. So, it would be very disruptive to the U.S. energy sector, to the U.S. refining industry and to U.S. gasoline prices." The tariffs could also pose a risk to the inflation outlooks for Canada, Mexico and the U.S. Mr. Antunes adds, "A 25-per-cent tariff, I think, would shut down the auto industry in this country if it were to apply and be permanent."