U.S. tariffs and Canada’s retaliation to them would have a devastating effect on the economy, pulling growth down while reigniting inflation, said Bank of Canada governor Tiff Macklem.

'If tariffs are long-lasting and broad-based, there won't be a bounce-back... The level of output will be permanently lower,' Tiff Macklem said{ai:summary}<p>Bank of Canada governor Tiff Macklem warns that U.S. tariffs and Canada’s response could severely harm the economy, leading to reduced growth and a resurgence of inflation. </p><p>Such economic repercussions highlight the interconnectedness of trade policies between the two nations. #economy</p>

'A new crisis on the horizon': Bank of Canada governor warns of devastating effects of trade war

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