Whiting, however, said that Canada accounted for only 1% of their total sales and that the company could withstand the hit.

The industry is pressuring the Japanese government to take steps to head off any additional duties.

As Trump publicly complained about China’s influence over the canal, Panama’s government weighed whether to cancel its contract with CK Hutchison to operate the ports.

In recent years, as world economies have become more interconnected, politicians have increasingly used regulations as a means of advancing foreign policy.

Trump told lawmakers in Washington on March 4 that Panama had broken the agreements it made when it took over the waterway a quarter-century ago. 

Tesla’s weakening numbers in China, the world’s biggest auto market, are in stark contrast to BYD, whose sales were up 161% year-on-year.

As uncertainty has become the new norm for supply chains, previously tried-and-true crisis management strategies are no longer equipped to keep up with the pace of today's disruptions.

U.S. president Donald Trump recently accused the Panamanian administration of allowing China to control the Panama canal.

"This is not the outcome we wanted," said Doug Ford. "We have no choice; we have to respond."

High grocery prices are squeezing lower-income consumers.