US Edition
Trade Clarity to Help Canada’s Economy Rebound After Modest Recession: Deloitte
CANADA, JUN 25 – Deloitte Canada predicts a mild recession in 2025 driven by U.S. tariffs on key industries, with unemployment rising to 7.3% before improving in 2026, officials said.
- On June 25, 2025, Deloitte Canada released a forecast anticipating a mild recession during the middle portion of the year, attributed to economic uncertainty stemming from the tariff conflict with the United States.
- This recession stems from increased U.S. tariffs on steel and aluminum and ongoing trade uncertainty, although Canada secured tariff exemptions for CUSMA-compliant exports.
- The forecast notes that manufacturing weakness is spreading, with transportation, warehousing, and business services also reducing workforces while some provinces see growth from energy exports.
- Deloitte projects unemployment near 7.3% in fall 2025 before dropping below 7% early next year, with GDP growth of 1.1% in 2025 accelerating to 1.6% in 2026 despite the slowdown.
- Legislation known as Bill C-5 was recently approved by lawmakers to reduce barriers to trade between provinces and accelerate the approval process for major projects, with the goal of encouraging long-term investment even though the benefits may take several years to become evident.
Insights by Ground AI
Does this summary seem wrong?
38 Articles
38 Articles
Trade Clarity to Help Canada’s Economy Rebound After Modest Recession: Deloitte
Some economists are putting an increasingly optimistic slant on Canada’s tariff dispute with the United States, arguing the economy should be able to avoid “worst-case” scenarios from the trade war. That doesn’t mean the Canadian economy gets off scot-free—a new forecast published by Deloitte Canada on Wednesday calls for a modest recession to hit in the second and third quarters of the year as uncertainty and weakness caused by tariffs start to…
·New York, United States
Read Full Article
Some economists are increasingly optimistic about the tariff dispute with the United States.
·Montreal, Canada
Read Full Article
Coverage Details
Total News Sources38
Leaning Left15Leaning Right2Center5Last UpdatedBias Distribution68% Left
Bias Distribution
- 68% of the sources lean Left
68% Left
L 68%
C 23%
Factuality
To view factuality data please Upgrade to Premium
