Macklem Warns Unpredictable US Trade Policy Threatens Canadian Economic Growth

Bank of Canada governor Tiff Macklem has expressed concerns that the unpredictability of U.S. trade policy could set back recent economic progress in Canada.

In prepared remarks for a speech in Halifax, Macklem stated that the changing trade picture is causing uncertainty and may lead businesses to delay investment and hiring decisions.

If new U.S. tariffs remain in place, Macklem predicts that the rate of growth for the economy could be roughly halved in the fourth quarter to below one percent.