Trump’s threatened tariffs on Canada and Mexico may boost inflation in the U.S., but there’s still “huge uncertainty” around macroeconomic forecasts, according to Deutsche Bank Research.

President Claudia Sheinbaum of Mexico said she had an "excellent conversation" with U.S. President-elect Donald Trump on Wednesday, lowering tensions stoked this week by the American leader's threat to impose tariffs.

President-elect Donald Trump’s threatened tariffs might be more of a political negotiating tactic than a set-in-stone policy, but the outcome is sure to have huge impacts on American consumers.