The 25% tax that President Donald Trump plans to slap as soon as Saturday on imports from Canada and Mexico could drive up the price of everything from gasoline to pickup trucks to the guacamole dip that features so prominently at American Super Bowl parties.

A deadline for U.S. tariff hikes on two of its top trading partners has global currency markets braced for increased volatility, FX options signal, with the Canadian dollar in the crosshairs.

Steep tariffs on Mexico and Canada are set to go into effect on Saturday as President Trump threatens trade with America's neighbors unless they address illegal migration, drug trafficking, and "massive subsidies in the form of deficits.