Bloomberg: Tariff War Likely to Put Canada Into Recession, Economists Say

The loonie and peso are vulnerable to drops exceeding 2% to 3% after trading begins in Asia Sunday evening Toronto time, said Chief Market Strategist Karl Schamotta. “The consequences of an extended trade war within what was — until a few hours ago — one of the world’s most successful economic partnerships are almost too terrible to comprehend, but markets will nonetheless have to begin planning for one,” he wrote after the tariffs were announced. Bloomberg: Tariff War Likely to Put Canada Into Recession, Economists Say