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Canada waited too long to diversify trade from U.S., BoC governor says

  • Governor Tiff Macklem spoke to Saskatchewan business leaders on September 23, 2025, about Canada's economic challenges and trade disruptions.
  • Macklem stated that Canada delayed too long in diversifying its economic connections beyond the United States, noting that efforts to make this shift should have started 15 years ago.
  • He noted that U.S. tariffs have hit Canada's trade-sensitive industries and that China's tariffs on canola sharply affect Saskatchewan's economy.
  • The Bank of Canada cut its benchmark interest rate to 2.5%, real GDP fell in Q2 2025, and exports tanked as labour market cracks emerged in tariff-struck sectors.
  • Macklem urged Canadian leaders to improve transportation, remove internal barriers, develop new markets, and start hard work now to boost economic growth beyond current constraints.
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19 Articles

Lean Left

The Governor of the Bank of Canada argues that the country has waited too long to diversify its economy and trade relations.

·Montreal, Canada
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CTV NewsCTV News
+13 Reposted by 13 other sources
Center

Canada waited too long to diversify trade from U.S., BoC governor says

The head of the Bank of Canada says the country waited too long to reduce its economic dependence on the United States and is paying the price today.

·Canada
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Center

Improving transportation and removing interprovincial barriers is crucial, says the head of the central bank.

·Montreal, Canada
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Lean Left

The Governor of the Bank of Canada argues that the country has waited too long to diversify its economy and trade relations beyond the United States.

·Montreal, Canada
Read Full Article
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Bias Distribution

  • 56% of the sources lean Left
56% Left

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The Record broke the news in Waterloo, Canada on Tuesday, September 23, 2025.
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