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This quarterly economic forecast presents the medium-term outlook for the Canadian economy. This release focuses on international trade. For an overview of all major components of the economy, go to the Canadian Outlook main page.
The Canada-U.S. trade conflict will weigh more heavily on exports than on imports, resulting in lower net exports and slower GDP growth in 2025 and 2026. With aluminum, steel, and automotives being slapped with steep industry-specific tariffs, exporters in metal manufacturing, and motor vehicles and parts industries will be notably weakened.
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