Bank of Canada Governor Tiff Macklem warns that new U.S. tariffs could significantly slow Canada’s economic growth late in the year. Speaking in Halifax, he says tariff measures related to a trade conflict could cut fourth-quarter growth by as much as half if they persist.
Macklem also points to broader risks to the recovery, including uncertainty linked to the Iran conflict. The outlets describe his remarks as a caution about how international tensions and tariff policies can affect demand and economic activity. While both sources focus on the potential impact on quarterly growth, one outlet frames the warning around tariffs and the broader trade-and-conflict backdrop, and the other emphasizes the specific scenario of U.S. tariffs continuing into the fourth quarter.
