The Impact of Tariffs on Canadian Economy

The ongoing threat of tariffs poses a significant risk to the Canadian economy, particularly given that approximately 75 percent of Canadian exports head to the U.S. The potential implementation of these tariffs could lead to job losses, decreased demand for Canadian goods, and even possible recession. This interconnectedness underscores the urgency for Canada to find alternative trading partners to mitigate these economic risks. However, diversifying trade relationships is complicated and often more challenging than it appears, requiring substantial time and resources.