President Donald Trump's threats to impose punishing tariffs on Canada and Mexico may be part of a strategy to gain leverage ahead of new negotiations on a regional trade agreement, experts said.

Among President Donald Trump’s wave of executive orders signed on Day One, one major campaign promise was missing — imposing universal tariffs on all imports. Instead, Trump told reporters he would narrow his focus on Canada and Mexico and pledged to impose 25% tariffs on both neighboring countries as soon as Feb.

While much about the threatened tariffs is still unclear, experts predict they would be bad news for all three economies, with few winners.