07:44 AM EDT, 04/01/2025 (MT Newswires) -- It's the first of the month, so investors may get auto sales data from the United States and Canada, noted Bank of Montreal (BMO).

Car dealerships were likely to see a jump in sales in the final days of March, as buyers looked to avoid a possible price increase stemming from U.S. tariffs, said the bank. President Donald Trump's 25% auto levies are expected to take effect Thursday.

The tariff threat is about to get amped up on Wednesday -- to be announced at 3 p.m. ET from the Rose Garden in the White House -- and the impact promises to be "significant," stated BMO. The degree of significance depends on which country markets are looking at, likely to be the European Union and China, Vietnam, and possibly Canada and Mexico. For the world as a whole, it also remains to be seen.

However, the International Monetary Fund is finally weighing in, pointed out the bank. It is concerned, of course, but not enough to call for a global recession. It is all about confidence, according to Managing Director Kristalina Georgieva.

The IMF is "not seeing a dramatic impact" yet from the tariff threats and the tariffs that are in place, but "the sooner there is more clarity, the better, because uncertainty, our research shows, the longer it goes, the more it may negatively impact growth." So although it doesn't see a recession "on the horizon", things can change, added BMO.