Canada’s economy will see a drop in investment and an increase in unemployment this year due to U.S. tariffs, a new report from Deloitte Canada suggests.
The company’s annual economic statement released on April 30 forecasts the impact of U.S. tariffs on the country’s economy for the next year.
Deloitte Canada chief economist Dawn Desjardins says a “modest downturn” is ahead for Canada, while a loss of free-trade access to the United States would create a more permanent hit, reducing Canadian real gross domestic product (GDP) by roughly 3 percent by 2030.
Desjardins said the country was “facing an extremely uncertain economic operating environment” due to U.S. tariffs….