Oil prices edged down on Friday and were on course for a weekly decline as markets wait to see if U.S. President Donald Trump follows through on his threat to impose tariffs on Mexico and Canada this weekend.

Manufacturers from Asia, Europe and elsewhere have poured billions into North American supply chains that could be hit by new taxes on Mexico, Canada and China.

The dollar was edging higher against a basket of currencies, recovering modestly after falls the previous day following weak U.S. gross domestic product data. Markets turn cautious ahead of possible announcements by President Trump on tariffs,