Forex
Canada's Economy Bounces Back Strongly in Q2 Despite Tariff Risks
Canada's economy has rebounded strongly in Q2, driven by resilient domestic demand and improving net trade.
According to Royal Bank of Canada (RBC) economist Claire Fan, while US Section 338 tariffs pose risks to specific regions and industries, they will not derail overall growth in Canada.
The tariffs target a narrow set of Canadian products, limiting their nationwide impact but posing significant risks to targeted producing regions and industries.
Broader US tariff rates have continued to edge lower, consistent with the outlook for a resilient US economy benefiting from major infrastructure buildouts and government spending.