Canada’s economy contracted by 1.6% in the second quarter, as rising U.S. tariffs dealt a heavy blow to exports, underscoring how ongoing trade tensions are slowing down growth, CBC reports
Browsing: North America trade
A recent report highlights Canada’s exciting potential as a leading trade winner, showing that U.S. tariffs on Canadian goods are significantly lower than those faced by other global competitors. This edge could turbocharge Canadian exports and ignite strong economic growth
President Trump has unleashed a bombshell threat to slap an eye-popping 35% tariff on Canadian goods-potentially doubling the fees compared to other countries-and intensifying the trade showdown between the U.S. and Canada, CNN reports
Recent surveys by the Pew Research Center reveal shifting American attitudes towards trade. While views on trade with Canada and Mexico remain largely positive, concerns about the U.S.-China trade relationship have intensified, reflecting broader economic anxieties.
US Treasury Secretary Janet Yellen has urged Canada and Mexico to align their tariffs on Chinese imports, highlighting the need for a unified approach to trade policies within North America. This move aims to strengthen regional economic strategies.