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Is Canada on the Brink of Recession?
I came to Canada 3 years ago, dreaming of a job market so bright I’d need sunglasses. But turns out, I should have packed a helmet for this economic roller coaster instead!
And just when I thought things couldn’t get more interesting, boom — Trump drops a 25% tariff on Canada and Mexico, effective February 1, 2025.
That’s right, folks. While we were busy shoveling snow and pretending to love Tim Hortons coffee, Uncle Sam decided to charge us extra for… well, everything.
To make things even spicier, the Bank of Canada cut interest rates to 3% yesterday, probably hoping to soften the blow. But let’s be real — this feels like putting a Band-Aid on a sinking ship. Will it stop a recession? Will Canada-U.S. trade survive this latest lovers’ quarrel? Will I ever be able to afford avocados again?!
Why are Experts Predicting a Recession?
Many Canadian industries are closely intertwined with the U.S. economy, including:
- Automotive Industry: The deeply integrated automotive supply chain between Canada and the U.S. means that vehicle parts often cross the border multiple times during production. In 2024, the U.S. imported approximately…
