The ongoing U.S.-led trade war has raised significant recession risks for Canada, prompting economists to predict that the Bank of Canada may cut interest rates two more times this year. This follows U.S. President Trump's announcement regarding a 90-day tariff pause, which has not alleviated concerns, as existing tariffs on automobiles and metals persist. With Canadian exports heavily reliant on the U.S. market, forecasts for economic growth have been downgraded, highlighting the adverse impact of unpredictable trade policies.
Growing recession risks from the U.S.-led trade war are prompting predictions for at least two interest rate cuts by the Bank of Canada this year.
Despite a brief lull in U.S. tariffs, pessimism remains around Canada’s economic outlook due to ongoing trade tensions that primarily affect exports.
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