Skip to Main content

7.65°^C Vancouver

News Entertainment Videos Shows Podcast Contact Us

Apr 17, 2025 7:49 PM - Connect Newsroom

Canada Could Face Major Economic Hit from Trump’s Tariff War, Economists Warn

Share On

canada-could-face-major-economic-hit-from-trumps-tariff-war-economists-warn

While election promises may differ from actual policy, experts warn that a renewed trade war could lead to substantial new costs for Canada.

Canada could suffer significant economic losses if U.S. President Donald Trump’s proposed tariff war becomes a reality, according to economists. While election promises may differ from actual policy, experts warn that a renewed trade war could lead to substantial new costs for Canada.

Rebecca Young, Vice President and Economist at the Bank of Nova Scotia, noted that if Canada is hit by serious economic shocks, any government in power would likely need to introduce relief packages. She compared the potential situation to past crises such as the 2008 financial meltdown and the 2020 COVID-19 pandemic.

Doug Porter, Chief Economist at the Bank of Montreal, added that he wouldn't be surprised if the federal deficit exceeds $60 billion this year. He said a portion of the added deficit may carry over into the next year as well.

Before the potential trade conflict emerged, the federal government had projected a $48-billion deficit for 2025. Young warned that if a trade war cannot be avoided, the deficit could rise sharply.

Latest news

CanadaNov 20, 2025

Indian national wanted in murder case arrested after being refused entry at Canada–U.S. border

U.S. border officials say a 22-year-old Indian national was taken into custody at the Peace Bridge crossing at Fort Erie after Canadian officers refused him entry over the weekend. The case is drawing renewed attention to cross-border screening practices that affect travel between Ontario and Western New York, a corridor frequently used by travellers from Ontario’s South Asian communities. According to a statement from U.S. Customs and Border Protection, the man – identified as Vishat Kumar – had previously entered the United States without authorization in 2024 and did not appear for a

chrystia-freeland-to-leave-parliament-for-senior-leadership-role-with-rhodes-trust-in-u-k

CanadaNov 20, 2025

Chrystia Freeland to leave Parliament for senior leadership role with Rhodes Trust in U.K.

Chrystia Freeland is preparing to leave federal politics next year as she moves to Oxford, England, to take up a senior leadership role with the Rhodes Trust. The educational charity confirmed that Freeland will become its next chief executive officer on July 1, overseeing one of the world’s most influential international scholarship programs. The organization administers the Rhodes Scholarship, which brings students from around the globe to study at the University of Oxford. Freeland’s appointment places her at the centre of an institution that has produced generations of leaders in publi

rain-and-snow-alerts-in-effect-as-coastal-and-northern-b-c-brace-for-strong-weather-system

Rain and Snow Alerts in Effect as Coastal and Northern B.C. Brace for Strong Weather System

Environment and Climate Change Canada has issued a pair of weather alerts for communities along British Columbia’s north and central coast, warning that a strong frontal system could bring significant rain and heavy mountain snow through the end of the week. The agency says areas from Bella Coola through Kitimat may receive as much as 70 millimetres of rain, raising the risk of water pooling on roads and possible washouts near rivers and creeks. The system is expected to weaken by Friday, but officials caution that changing conditions may still affect travel across coastal corridors. While t

senate-approves-citizenship-reform-for-lost-canadians-as-advocates-raise-adoption-concerns

CanadaNov 20, 2025

Senate approves citizenship reform for ‘Lost Canadians’ as advocates raise adoption concerns

Federal legislation designed to address long-standing gaps in Canada’s citizenship rules has cleared the Senate and is expected to become law before a court-imposed deadline early next year. The bill aims to resolve cases involving so-called Lost Canadians – individuals born abroad to Canadian parents who were themselves born outside the country and who lost access to citizenship because of restrictive rules adopted in 2009. The changes come after the Ontario Superior Court ruled last year that the previous one-generation limit on citizenship by descent was unconstitutional. Under the upda

AlbertaNov 20, 2025

Alberta auditor says failed lab privatization left public with $109 million bill

Alberta’s auditor general says the province’s attempt to shift community lab testing to a private operator resulted in significant financial losses and gaps in government oversight. A new report from Auditor General Doug Wylie estimates taxpayers absorbed roughly $109 million after the privatization effort collapsed. Wylie’s review found that senior officials in government advanced the plan despite internal warnings that the projected savings were unlikely. He says weaknesses in record keeping, financial analysis and contract oversight contributed to the breakdown of the agreement with D

Related News

Indian national wanted in murder case arrested after being refused entry at Canada–U.S. border

Indian national wanted in murder case arrested after being refused entry at Canada–U.S. border

U.S. border officials say a 22-year-old Indian national was taken into custody at the Peace Bridge crossing at Fort Erie after Canadian officers refused him entry over the weekend. The case is drawing renewed attention to cross-border screening practices that affect travel between Ontario and Western New York, a corridor frequently used by travellers from Ontario’s South Asian communities. According to a statement from U.S. Customs and Border Protection, the man – identified as Vishat Kumar – had previously entered the United States without authorization in 2024 and did not appear for a

Chrystia Freeland to leave Parliament for senior leadership role with Rhodes Trust in U.K.

Chrystia Freeland to leave Parliament for senior leadership role with Rhodes Trust in U.K.

Chrystia Freeland is preparing to leave federal politics next year as she moves to Oxford, England, to take up a senior leadership role with the Rhodes Trust. The educational charity confirmed that Freeland will become its next chief executive officer on July 1, overseeing one of the world’s most influential international scholarship programs. The organization administers the Rhodes Scholarship, which brings students from around the globe to study at the University of Oxford. Freeland’s appointment places her at the centre of an institution that has produced generations of leaders in publi

Senate approves citizenship reform for ‘Lost Canadians’ as advocates raise adoption concerns

Senate approves citizenship reform for ‘Lost Canadians’ as advocates raise adoption concerns

Federal legislation designed to address long-standing gaps in Canada’s citizenship rules has cleared the Senate and is expected to become law before a court-imposed deadline early next year. The bill aims to resolve cases involving so-called Lost Canadians – individuals born abroad to Canadian parents who were themselves born outside the country and who lost access to citizenship because of restrictive rules adopted in 2009. The changes come after the Ontario Superior Court ruled last year that the previous one-generation limit on citizenship by descent was unconstitutional. Under the upda

Legals

Journalism code of ethics

© 2021 AKASH Broadcasting Inc.

MANAGED BY STRATWIT

useful links

Accessibility Plan

BC Children's Hospital