No. of Recommendations: 2
Remember when these guys were our best friends? Everything Trump touches dies.America will survive, but will Canada?
“Trump tariffs threaten to derail Canada's economic recovery”
SNIP
“The central bank has said Canada's growth will be permanently stunted by the tariffs, while inflation will see a spike that could persist if tariffs continue.
The BoC will announce its monetary policy decision on March 12 and currency swap markets see at least a 90% chance of a rate cut, almost double the chance expected on Monday.
Exports to the U.S. account for roughly 18% of Canada's GDP and more than 2.4 million jobs in Canada are dependent on business with the U.S.
"I won't sugar coat it. This is going to be tough," Prime Minister Justin Trudeau told a press conference on Tuesday.
Economists said that if tariffs continue and keep stacking up, they will ripple through a multitude of sections of the economy.
Households will be pushed deeper into debt, company profits will be hit, government revenues will be dented, there will be sweeping layoffs, consumer and corporate defaults will jump, and Canadian provinces could lose credit ratings, they said.
"It will disproportionately affect the less fortunate economically," said Dave McKay, CEO of Royal Bank of Canada, the country's biggest lender.”
https://www.reuters.com/markets/trump-tariffs-thre....
The important reason why I agree with President Trump’s tariffs on Canada and Mexico are aimed at getting America’s biggest trading partners to reduce the amount of undocumented immigrants and fentanyl coming across America’s borders.
