The Financial Post reports in its Wednesday edition that Canadian investors got a sneak peek into the potential winners and losers from a trade war on Monday, as markets tumbled to start the day before recovering after it was revealed that U.S. President Donald Trump had paused tariffs for 30 days, first on Mexico and then on Canada. The Post's Jane Switzer writes that most analysts have concluded that a trade war with Canada's biggest trading partner would be a losing scenario for investors. "It's going to be hard to find any real winners because this is bad on Canada," said Barry Schwartz at Baskin Wealth Management. "It hurts our economy. It could cause a recession." Bank stocks could be at risk if tariffs are invoked and Canada is pushed into a recession. Canadian life insurance company stocks may have a more muted reaction than bank stocks because more of their earnings come from outside of Canada, according to RBC analyst Darko Mihelic, but "equity market, interest rate, and spread volatility" could be a source of short-term pain. In particular, iA Financial -- "the most 'Canadian' of the lifecos" -- may be more negatively affected by short-term volatility than other life insurance companies, he said.