The Globe and Mail reports in its Friday edition that Donald Trump's threat to impose tariffs on Canadian imports poses huge risk to the country's economy. The Globe's Mark Rendell writes, however, that such threats also provide an opportunity to address structural problems that hold back economic growth, and to double-down on sectors in which Canadian companies can thrive in an increasingly protectionist world. That is according to the chief economists at five of Canada's largest banks, who delivered their 2025 outlooks at an Economic Club of Canada event in Toronto on Thursday. National Bank of Canada chief economist Stefane Marion said Canada should focus on expanding its manufacturing sector, fuelled by the country's supply of inexpensive electricity and natural gas. "When you look at the size of the manufacturing sector, we've made ourselves irrelevant in the North American supply chain," he said. It remains unclear whether incoming president Donald Trump will follow through with his tariff threats, or what form they might ultimately take. There have been media reports in recent days suggesting that members of Mr. Trump's staff are developing plans for sector-specific tariffs rather than across-the-board levies.