Elbows Up As the G7 looms, the worst tariff impacts are yet to come
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Jun 10, 2025 Jim Stanford, an economist and Director of the Centre for Future Work, dives into the looming impacts of U.S. tariffs on Canadian products. He discusses Canada’s surprising economic resilience amid uncertainty. As the G7 approaches, they analyze the potential for public protests and the significance of the 'buy Canadian' movement. Stanford emphasizes the need for government action to bolster key industries and provides insights into consumer behavior amidst troubling tariff implications, blending economics with a touch of light-heartedness about local strawberries.
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Tariff Uncertainty Impacts Economy
- The tariff uncertainty harms investment more than the tariffs themselves so far.
- Canada's economy shows weakening signs despite not being in recession yet.
Buy Canadian Boosts Economy
- Canadians have reduced travel to the US, boosting domestic spending.
- Support for Canadian businesses creates economic resilience and bargaining power internationally.
Government Action Can Cushion Blow
- Governments should provide quick aid to affected industries and workers.
- Investing in housing, infrastructure, and energy can stimulate jobs and domestic growth.