'Tariff War Likely to Put Canada Into Recession, Economists Say'

 

The Canadian economy is set to face the most severe shock since the Covid-19 pandemic and will probably sink into a recession if a tariff war persists, say top economists, with one calling it an “existential threat.”

President Donald Trump’s 25% tariffs on most goods the US buys from Canada and Prime Minister Justin Trudeau’s plan to retaliate on C$155 billion ($105 billion) worth of American-made products will trim real gross domestic product growth by 2 to 4 percentage points, according to economists’ estimates.

https://www.bloomberg.com/news/articles/2025-02-02/tariff-war-likely-to-plunge-canada-into-recession