Insurance Institute of Ontario- At the Forefront- Insider Insights: Tariffs, Turbulence & the Tipping Point

The Trump Administration’s current and proposed tariffs are already inflicting damage on the Canadian, U.S., and global economies. Even with carveouts under the CUSMA agreement, measures like the steel and aluminum levies, and those tied to fentanyl/border security and autos, are slowing growth and shaking investor confidence.

A recession appears increasingly likely, and the outlook is clouded by intensifying uncertainty. With governments preparing economic countermeasures and the Bank of Canada already implementing rate cuts — and potentially more to come — it’s critical to understand what lies ahead.

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