Macklem Shrugs Off Tariff War's Economic Impact
Bank of Canada Governor Tiff Macklem downplayed concerns about the economic impact of a widening tariff war between Canada and the United States. On September 3, 2026, he stated that workers and businesses were adjusting to higher costs.
Macklem specifically mentioned a 50 percent Canadian surcharge on smartphones as part of this trade dispute. He predicted that it would not have 'a big ongoing impact' on the economy.