It's a trade war without borders: Frances Donald
RBC Chief Economist Frances Donald
RBC Chief Economist Frances Donald answers three questions on Trump’s tariffs and its impact on the global economy. When it comes to what the U.S. tariff exemptions mean for Canada’s economic growth outlook, she says: “Now, while various sector-specific tariffs will weigh on Canada in 2025, our concerns are shifting to more ‘traditional’ risks to Canada’s economy — the rising risk of a U.S. recession and a drop in oil prices. The latter may be more ‘indirect’ in some capacity, but they are also more of a function of global developments that have far less to do with Canadian-U.S. political relations.”
