Trade War Clouds Economic Growth as Tariffs Bite

Bank of Canada Governor Tiff Macklem warned that the persistent trade war with the United States and conflict in the Middle East could slow down economic growth. Speaking in Halifax on Monday, September 21, Macklem noted that these global events could unravel the recent rebound in the Canadian economy.

The news comes as Canada's new partnership with the European Union takes effect. The Financial Post spoke to international business professors and experts who explained what this means for the Canadian economy and how it fits with existing trade agreements.

Meanwhile, Canadian manufacturers of protein shakes and bars are scrambling to find new sources of whey protein after a 50% tariff was imposed on imports from the United States. The US will also prohibit imports of specified Canadian whey products starting September 29.

Canada's oilpatch is experiencing a boom in dealmaking, driven by high crude prices and support for building new pipelines from Prime Minister Mark Carney.