How a trade war may hurt our economy!
Toronto, ON – Canada’s economy would shrink by 1.8 per cent if the United States breaks all trade ties with its partners and imposes across-the-board tariffs that average 20 per cent, according to a Scotiabank report. “A ramp-up in protectionism in the U.S. results in a negative impact on growth in each of the NAFTA partners economies,” said the report. Earlier this month, the U.S. imposed significant tariffs on steel