Canadian recession looms if US tariffs remain: Economists

Economists say the Canadian economy is poised to plunge into a recession this year if U.S. tariffs that took effect Tuesday morning remain in place.

Canada’s economic landscape “is set to change dramatically” because of measures on both sides of the border, said RSM Canada economist Tu Nguyen, as the trade war will mean increased prices, rising unemployment and consumers pulling back on spending.

Anne Gaviola has more on why investors are concerned and why markets continue to sell off.