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Economic analysts stated that the tariffs would drastically impact the Canadian energy sector due to Canada supplying the United States with 20% of its consumed oil, and providing the heavy crude oil for two-thirds of Midwest oil refineries and 90% of those in Rocky Mountain states.
Trudeau said Trump wants to sink the Canadian economy so that the president can add Canada as America's 51st state. "What he wants is to see a total collapse of the Canadian economy," he said ...
Later that same month, Oxford Economics forecasted a 24% drop in Canadian home prices by mid-2024, unless higher interest rates and anti-speculation policies fail. Were home prices to rise further (in this latter scenario), a crash of 40% and a financial crisis was to be expected. [64]
"What he wants is to see a total collapse of the Canadian economy. Because that'll make it easier to annex us…. Now, first of all, that's never going to happen. We will never be the 51st state.
Also known as the Loonie, the Canadian dollar traded above the threshold of 1.43 per U.S. dollar, or 0.70 U.S. cents per Canadian dollar, on Tuesday, its weakest intraday level since the start of ...
The economy of Canada is a highly developed mixed economy, [33] [34] [35] the world's ninth-largest as of 2024, and a nominal GDP of approximately US$2.117 trillion. [6] Canada is one of the world's largest trading nations, with a highly globalized economy. [36] In 2021, Canadian trade in goods and services reached $2.016 trillion. [37]
Canada's economy grew at an annualized rate of 1% in the third quarter, undershooting the Bank of Canada's forecast of 1.5%, after growing 2.2% in the prior quarter. ... The Canadian dollar edged ...
The events "sent shockwaves" through Canadian politics, leading to calls for Prime Minister Justin Trudeau to resign. [2] On 6 January 2025, Trudeau announced his pending resignation as leader of the Liberal Party and as the prime minister of Canada. [3] He also asked Governor General Mary Simon to prorogue Parliament until March. [4] [5]