Economists warn both Canada's economy and individual Canadians could suffer from impacts of a U.S. government shutdown, and that those impacts will deepen and broaden the longer it lasts.
"Canada and the U.S. are tied at the hips, so even if we are not having a shutdown in Canada...when the U.S. coughs, Canada gets the flu," Andreas Schotter, professor of international business at Western University, told CTVNews.ca in a phone interview on Friday.
How the shutdown impacts Canada will depend on which departments and services are deemed non-essential, and how time causes that list to grow, according to Chetan Dave, professor of economics at the University of Alberta. "The longer the government stays closed, the more the trade-offs they have to make as to what they will call essential and what they will call non-essential," Dave said.The United States is Canada's chief trading partner, and the two countries exchange billions of dollars worth of goods and services each day. In 2022, U.S. imports from Canada totalled $595 billion.
Any staffing cuts at the Canada-U.S. border could make it harder to get imports like gasoline and food into Canada, potentially driving up the prices of those commodities the longer the shutdown continues.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'Struggling to grow:' What economists are saying about Canada's GDPWeak readings could keep the Bank of Canada interest rate on hold
Read more »
Canada’s population surges on 46% jump in temporary residentsAs Canada grows at historically strong rates, some economists warn the system is ‘out of control’
Read more »
Annual list of most popular baby names in Canada revealed by Statistics CanadaLooking for baby name inspiration? A recent list of the top 20 baby names in 2022 may help with your search.
Read more »
Canada's GDP stays flat in July, Statistics Canada saysCanada's real GDP was flat in July, Statistics Canada said on Wednesday.
Read more »
Canada's economy was flat in July, new GDP numbers from Statistics Canada showCanada's gross domestic product was essentially unchanged in July, as the service sector expanded slightly while goods-producing industries shrank.
Read more »
Rugby Canada looking to expand blue card concussion protocol across CanadaThe blue card program has been piloted in rugby games in Ontario for the past three years, with match officials handing the card to a player who’s showing signs or symptoms of a concussion.
Read more »