US EditionCanadian recession looms this year if U.S. tariffs stay in place: economists
- Economists warn that the Canadian economy is likely to enter a recession in 2025 if U.S. Tariffs remain in place.
- U.S. President Donald Trump's tariffs impose a 25 percent levy on Canadian goods and a 10 percent levy on Canadian energy.
- Prime Minister Justin Trudeau announced retaliatory tariffs on $155 billion worth of American goods.
- Tu Nguyen states that the trade war will lead to increased prices and rising unemployment.
86 Articles
86 Articles
Trump’s tariffs will push Canada into recession, economists say: Here’s what to expect as prices rise and the layoffs start
The fallout of Trump’s tariffs means some sectors of Canada’s economy will face mass layoffs, while many goods and services are about to get more expensive.
Canadian is headed for recession if U.S. tariffs stick: economists
Canada’s economic landscape "is set to change dramatically" because measures on both sides of the border will cause prices to increase, unemployment to rise and consumers to pull back, said RSM Canada economist Tu Nguyen.
How soon will tariffs make things more expensive?
U.S. President Donald Trump's 25 per cent tariff on Canadian goods are expected to start on March 4. The National’s Adrienne Arsenault asks journalists and a business professor to answer viewer questions about how the tariffs will impact prices, a possible recession and Canadian diplomacy.
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