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Business Confidence Subdued Amid Tariffs but 'Worst-Case' Less Likely: BoC Survey
SIMCOE COUNTY, ONTARIO, JUL 21 – The Bank of Canada reports 28% of firms plan for recession amid tariff uncertainty while some exporters see improving outlooks despite ongoing trade tensions.
- On April 2, 2025, President Donald Trump announced 'Liberation Day' tariff hikes, followed by a 90-day suspension ending July 9, 2025 that tested trade partners' limits with tailored levies.
- Trump imposed a flat 10 percent tariff on all imports with country-specific levies, designing the plan as a stress test for global partners and administration coordination.
- During the 90-day pause, the U.S. secured agreements with the UK and Vietnam, with the UK lowering barriers on U.S. goods and Vietnam capping tariffs at 20 percent with anti-transshipment pledges.
- When the pause concluded on July 9, 2025, the tariff policy's mixed results revealed strategic wins and unforeseen pitfalls as the universal levy proved manageable for many smaller economies despite resistance.
- Ahead of the July 30, 2025 interest rate decision, findings show the Bank of Canada reports found tariff-related uncertainty still dampens sentiment but lessens worst-case scenarios, with 28 percent of firms planning for a recession.
24 Articles
24 Articles
Business sentiment remains pessimistic for 41st month in August: poll
Korea's business sentiment remains pessimistic for August, a poll showed Wednesday, as the scheduled implementation of U.S. reciprocal tariffs starting next month weighs on corporate confidence. The b...
Business Confidence Subdued Amid Tariffs but ‘Worst-Case’ Less Likely: BoC Survey
A pair of reports from the Bank of Canada say tariff-related uncertainty continued to put a damper on business and consumer sentiment in the second quarter, but the worst-case trade scenarios previously anticipated seem less likely. The central bank’s business outlook survey said 28 percent of firms are now planning for a recession in Canada, down from 32 percent last quarter but still up from 15 percent over the previous two quarters. Sales out…
Winnipeg Free Press
Business confidence subdued amid tariffs but 'worst-case' less likely: BoC survey
Breaking News, Sports, Manitoba, Canada
Trump's tariff tantrum could actually be a huge win for Canada's economy
Getty Images; Tyler Le/BIThe whole thing about Canadians is that they're remarkably nice. Except lately, they haven't been feeling so warm and fuzzy, namely toward their neighbors to the south.Given everything that's going on — President Donald Trump's on-and-off trade war, his remarks about making the country the 51st state — Canada has a right to be annoyed with the United States. If your longtime bestie suddenly turned on you for no apparent …
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