Impact of U.S. Economic Policies on Canada

The potential economic policies influenced by Donald Trump are expected to significantly impact Canadian personal finance. Trump's proposals for tariffs on Canadian imports could generate uncertainty that may lead to a recession in Canada, affecting employment, wages, and the housing market. This uncertainty creates a risk for investors and savers as fluctuating economic conditions could lead to lower stock prices, increased unemployment, and shifts in interest rates. Even though Canada's economy operates separately from the U.S., the interconnectedness means that U.S. economic decisions can have a bleed-over effect, potentially resulting in higher inflation and interest rates in Canada.