Canada’s economy could tip into recession depending on who ends up in the White House after the United States’ presidential election in just a few weeks’ time, economists warn.
While fears largely circle around the impact of potential tariffs under a second Donald Trump presidency, those who spoke to Global News say a Kamala Harris administration would not necessarily be without its own trade challenges.
The most direct impact to Canada’s economy post-election could come from Trump’s proposal for blanket tariffs on all imports to the U.S. While he’s set a minimum of 10 per cent tariffs for all trading partners, he’s recently floated going as high as 20 per cent, while China and others could be facing even higher amounts.
Desjardins chief economist Jimmy Jean tells Global News that Trump’s potential second term in office would be “much more disruptive” than a Harris regime, which he views as largely a continuation of policies set under the current …