Weak Canadian dollar affecting U.S. travel plans [Video]

Despite rebounding on Wednesday, the Canadian dollar continues to face pressure after U.S. president-elect Donald Trump threatened to impose a 25 per cent tariff on all Canadian imports.

The loonie hovered around 71.10 cents USD in early-morning trading, reaching as high as 71.36 cents USD by 10:30 ET.

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However, some economists warn there are few reasons for optimism that the uptick will be prolonged considering the widespread impacts hefty tariffs would have on the Canadian economy.

“It’s going to lead to slower economic growth, possibly higher inflation, possibly higher unemployment and so, again, if you’re looking to invest your money in any currency in the world, Canada doesn’t look all that attractive,” said Concordia University Economics Professor Moshe Lander.

“When the demand for the Canadian dollar falls, so does its price.”

It’s not a foregone …