The US dollar rose on this and stock markets fell.
There are any details in the report that cites two unnamed sources saying Trump told Republican lawmakers he plans to issue reciprocal tariffs as early as Friday (today).
It’s not clear who these are aimed at and the report doesn’t say.
Trump has talked about reciprocal tariffs before and mentioned Europe and Canada here but a VAT is not a tariff and tariffs have little to do with Canadian banks (if anything).
On the campaign, he’s said he would impose tariffs on American imports equal to the rates that trading partners impose on American exports.