TORONTO — The Conference Board of Canada says U.S. tariff pressure will likely mean a sizable hit to jobs and the economy in the quarter ahead.
The research group says that, assuming the tariffs and Canadian countermeasures stay in place for the whole second quarter, the economy could shrink by 5.4 per cent on an annualized basis and around 160,000 people could lose their job.
It says about half of the job losses will be in manufacturing as automotive exports drop by over 50 per cent and overall real exports fall by a third.
The Conference Board says the trade actions will also push inflation higher to 2.9 per
→ Continue reading at BIV