Bank of Canada Governor Warns of Lasting Trade Impact Despite Trump-Trudeau Meeting

Bank of Canada Governor Tiff Macklem emphasized the significance of the recent meeting between Canadian Prime Minister Justin Trudeau and U.S. President Donald Trump in Washington. He highlighted the importance of mutual understanding and maintaining open communication channels between the two nations. Macklem noted that while the meeting was crucial, there is still a long way to go in resolving the issues at hand. He pointed out that the U.S. trade policies have been unpredictable, with major tariffs being imposed and then subsequently removed. This unpredictability makes it challenging to foresee future developments.

Macklem also stated that even if all tariffs were to be canceled, there would still be lasting impacts. He explained that the trust between Canada and the U.S. has been somewhat eroded, and this damage will have enduring effects on their relationship. The governor's remarks underscore the complexities and long-term implications of the trade disputes between the two countries.