Macklem says loss of CUSMA would mean recession for the Canadian economy

Macklem says loss of CUSMA would mean recession for the Canadian economy

The Canadian economy would likely fall into recession if the country loses preferential trade access to the United States under the Canada-United-States-Mexico Agreement (CUSMA), but that is not the Bank of Canada's base-case scenario despite a recent flare up in trade tensions, governor Tiff Macklem said this week.