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Why Canada's economy is showing resilience in the face of U.S. tariffs

Allan

Allan

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Canada's GDP growth in June was much better than America's, our inflation is lower and in May we set a new import/export record. Also in June 83,000 jobs were created in Canada compared to 14,000 in the US.

The article below explains some of the reasons Canada's economy is doing well despite the tariffs.

Despite tariffs piling up over the past few months, economists say there are few signs of economic collapse — though Canada's economy is starting to show cracks.

TD Bank economist Marc Ercolao conceded it's a "bit of surprise" to see the economy holding up against a massive disruption from Canada's largest trading partner.

"Many months ago, ourselves — as well as other economic forecasters — had an outlook for a much weaker Canadian economy. Obviously, that isn't manifesting now," he said in an interview.
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Allan said:
Canada's GDP growth in June was much better than America's, our inflation is lower and in May we set a new import/export record. Also in June 83,000 jobs were created in Canada compared to 14,000 in the US.

The article below explains some of the reasons Canada's economy is doing well despite the tariffs.



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I expect far higher domestic spending, ie far fewer cross border shopping and vacations with that spending occurring in Canada instead.

That and the tariffs have not had real time to take effect in Canada and the US, manufacturing will take a hit in Canada
 
Allan said:
Canada's GDP growth in June was much better than America's, our inflation is lower and in May we set a new import/export record. Also in June 83,000 jobs were created in Canada compared to 14,000 in the US.

The article below explains some of the reasons Canada's economy is doing well despite the tariffs.



Click to expand...
Tariffs haven't been 'piling up" lately. Most Canadian products are exempt from tariffs because of the USMCA and the big 35% tariff was just applied four days ago.

Things are about to get much worse for Canada...especially when Trump starts working on scrapping the USMCA and negotiating directly with Canada.

That's when we'll see just how "resilient" Canada's economy really is.
 
Mycroft said:
Things are about to get much worse for Canada...especially when Trump starts working on scrapping the USMCA and negotiating directly with Canada.
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You been camping or something?

Negotiations are happening now and have been for weeks.
 
Allan said:
You been camping or something?

Negotiations are happening now and have been for weeks.
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Trump hasn't even started on the USMCA renegotiations yet.

Trump put tariff negotiations with Canada on the back burner and just went ahead and slapped Canada with the 35% tariff.

 
MAGAnificent said:
Yeah, however Carney is doing no better than the man-child prime minister that preceded him.
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Man child?

Trump is the ultimate man child.

He has not moved on from school yard insults mandatory taunts. Like a toddler who doesn't get his way he throws tantrums
 
Allan said:
Canadian and US negotiators are working on a trade deal.
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This must be one of those slow learning moments. I guess even Canada has those once in a while.
 
Allan said:
America has decided they don't need steel, aluminum, copper, pharmaceuticals, or potash.

Must be nice.
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Well, someone else will want them.
 
MAGAnificent said:
He certainly has you triggered.
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Certainly not, I laugh at him and the US because of him.

Trump is ruining the geopolitical strength the US built up over the last 70 years, now it was going to happen eventually but Trump is accelerating it dramatically. Ties to Japan, South Korea, Australia and India are being damaged,

The US standard of living under Trump will drop dramatically, all to bring back manufacturing widgets, at triple the cost.

Things I expected would take another 10 to 15 years is going to occur in 5.

So enjoy Trump while you can, all the while the US turns itself into Argentina of the 1900's
 
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