Trump’s Tariffs Hit Canada: Growth, Jobs, and Inflation in the Crossfire

by Nato Balavadze

In this paper, we discuss:

• Canada’s productivity crisis: stagnation amid resource wealth: resilience and diversification.
• Recent macroeconomic developments: trade shocks, labour market strains, inflation’s mixed signals.
• Bank of Canada’s balancing act.
• Carney’s economic agenda amid fiscal pressures and the country’s fiscal outlook.
• How the “One Canadian Economy” bill targets growth barriers.

Download PDF: Canada Tariffs August 2025