Stephen Poloz, former governor of the Bank of Canada, cautions that ongoing trade disputes with the U.S. are deterring business investment in Canada, exacerbating an already fragile economy. Poloz highlights the threat of U.S. tariffs and the lingering effects of the pandemic, emphasizing the need for policies that incentivize investment and strengthen Canada's economic resilience.
Opens in new windowFormer Bank of Canada governor Stephen Poloz shares his analysis on the Canadian economy and Trump 's tariff threats.
“We’ve been in a weak spot for pretty well two years now. It’s been masked by high immigration flows, which kind of buries the data,” he said. He said a big reason why the U.S. economy is faring better than Canada’s now is due to tax incentives implemented by the Joe Biden administration that encouraged business investment in the country.
“That was priority one, but I think maybe we should have held more resources and directed them at companies. We of course did support small companies with a lending program, but that was just to get them through,” he said.
Economics ECONOMY CANADA TRUMP TARIFFS INVESTMENT
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