With the US and Canada locked in a trade war, fears of a recession lurk
The trade war that United States President Donald Trump has triggered with Canada is expected to hurt businesses in both countries. But experts say the damage to the Canadian economy will be worse, as the tit-for-tat tariffs have raised the chances of a recession.
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Key Facts
- Fact 1: UK has billions in contracts with firms tied to illegal Israeli settlements 6 months of war on Iran Canadian economy recovers sharply in Q2 but shadow of US tariffs in future US Fed chair warns inflation progress insufficient, hints at rate hikes On Saturday, the US imposed 50 percent tariffs on $20bn worth of Canadian goods after trade negotiations between the two countries collapsed.
- Fact 2: On Monday, Trump also threatened Canada with new 50 percent levies on all car products, starting January 1.
- Fact 3: On Tuesday, Prime Minister Mark Carney unveiled retaliatory measures against more than 700 US products, also valued at $20bn.
- Fact 4: The tariffs are tiered at 15, 25 and 50 percent, and they are slated to come into effect on September 8.
The trade war that United States President Donald Trump has triggered with Canada is expected to hurt businesses in both countries. But experts say the damage to the Canadian economy will be worse, as the tit-for-tat tariffs have raised the chances of a recession.
UK has billions in contracts with firms tied to illegal Israeli settlements 6 months of war on Iran Canadian economy recovers sharply in Q2 but shadow of US tariffs in future US Fed chair warns inflation progress insufficient, hints at rate hikes On Saturday, the US imposed 50 percent tariffs on $20bn worth of Canadian goods after trade negotiations between the two countries collapsed. On Monday, Trump also threatened Canada with new 50 percent levies on all car products, starting January 1. On Tuesday, Prime Minister Mark Carney unveiled retaliatory measures against more than 700 US products, also valued at $20bn.
(Original synthesis pending human/AI review — generated by the stub provider by selecting real sentences from the source material, not by writing new analysis or commentary.)
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