Tag: trump
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Interest Rate Outlook for Canada Amid U.S. Tariff Turbulence: What Lies Ahead?
On April 16, 2025, the Bank of Canada maintained its interest rate at 2.75% amid global economic uncertainty due to renewed U.S. tariffs. The BoC outlined two scenarios: one optimistic with potential rate cuts if tariffs are reversed, and another pessimistic involving stagflation and possibly rising rates if tariffs persist.
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How Tariffs Drive Up Housing Costs in Canada
The new tariffs on Canadian energy products and exports will raise costs for businesses and consumers, worsening inflation and housing affordability, particularly in Northeastern Ontario. Short-term impacts include higher construction costs, while long-term effects may push companies to seek alternative trade partners, affecting productivity and job stability. A comprehensive policy response is essential.
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Impact of Trump Tariffs on Canada’s Economy
The Conference Board of Canada’s report analyzes the economic fallout from proposed U.S. tariffs on Canadian imports. It predicts a 1.3% GDP decline nationally by 2025, with significant job losses and rising inflation. Provinces like Alberta, Saskatchewan, Ontario, and Quebec will face notable reductions in GDP due to various sector impacts.