The head of the Bank of Canada says the country waited too long to reduce its economic dependence on the United States and is paying the price today.
Governor Tiff Macklem was in Saskatoon Tuesday giving a speech about global trade disruption to Saskatchewan business leaders.
He warned that U.S. President Donald Trump’s tariffs have hit trade-sensitive industries hard in Canada and put economic growth on a permanently lower trajectory.
To break free of its reliance on the U.S. economy, Macklem argued that Canada needs to develop new global markets for its products and knock down the internal barriers that are hampering productivity in the country….