US EditionTrade war would wipe out economic growth while pushing inflation higher: Tiff Macklem
- Bank of Canada Governor Tiff Macklem warned that U.S. Tariffs could severely damage the Canadian economy, causing growth to drop by about 4 percentage points in the next two years and inflation to rise.
- Macklem stated that the current economic situation from tariffs differs from the COVID-19 pandemic, as the central bank possesses limited tools to manage the impact of tariffs on the economy.
- He emphasized that the uncertainty from U.S. Trade policies is already affecting Canada's economy, and a trade war could lead to a permanent decrease in economic output.
- He acknowledged the need for Canadian governments to enhance growth initiatives, while also emphasizing that now is not the time to change the Bank of Canada's 2 percent inflation target.
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37 Articles
37 Articles
All
Left
7
Center
3
Right
4
Coverage Details
Total News Sources37
Leaning Left7Leaning Right4Center3Last UpdatedBias Distribution50% Left
Bias Distribution
- 50% of the sources lean Left
50% Left
L 50%
C 21%
R 29%
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