US EditionCanada waited too long to diversify trade from U.S., BoC governor says
- Governor Tiff Macklem spoke to Saskatchewan business leaders on September 23, 2025, about Canada's economic challenges and trade disruptions.
- Macklem stated that Canada delayed too long in diversifying its economic connections beyond the United States, noting that efforts to make this shift should have started 15 years ago.
- He noted that U.S. tariffs have hit Canada's trade-sensitive industries and that China's tariffs on canola sharply affect Saskatchewan's economy.
- The Bank of Canada cut its benchmark interest rate to 2.5%, real GDP fell in Q2 2025, and exports tanked as labour market cracks emerged in tariff-struck sectors.
- Macklem urged Canadian leaders to improve transportation, remove internal barriers, develop new markets, and start hard work now to boost economic growth beyond current constraints.
19 Articles
19 Articles
The Governor of the Bank of Canada argues that the country has waited too long to diversify its economy and trade relations.
Improving transportation and removing interprovincial barriers is crucial, says the head of the central bank.
Canada Waited Too Long to Diversify Trade From US, BoC Governor Says
The head of the Bank of Canada says the country waited too long to reduce its economic dependence on the United States and is paying the price today. Governor Tiff Macklem was in Saskatoon Tuesday giving a speech about global trade disruption to Saskatchewan business leaders. He warned that U.S. President Donald Trump’s tariffs have hit trade-sensitive industries hard in Canada and put economic growth on a permanently lower trajectory. To break …
The Governor of the Bank of Canada argues that the country has waited too long to diversify its economy and trade relations beyond the United States.
Canada waited too long to diversify trade from U.S., BoC governor says (Business)
The head of the Bank of Canada says the country waited too long to reduce its economic dependence on the United States and is paying the price today. Governor Tiff Macklem was in Saskatoon Tuesday giving a speech about global trade disruption to Saskatchewan business leaders. He warned that U.S. Pre...
Coverage Details
Bias Distribution
- 56% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
