The probability of a U.S. recession has risen significantly thanks to President Donald Trump's tariffs and that will have a major negative effect on the Canadian economy, Prime Minister Mark Carney said on Monday.

Canadian Prime Minister Mark Carney said on Thursday that the idea of entering into a customs union with the U.S.– essentially matching American tariffs on other countries like China –would be risky.

Canadian Prime Minister Mark Carney is reacting to President Trump's widespread tariffs that investors and businesses around the world are worried about. CBS News' Shanelle Kaul and Kelly O'Grady report.