By Craig Lord The head of the Bank of Canada says the country waited too long to reduce its economic dependence on the United States and is paying the price today. Governor Tiff Macklem was in Saskatoon Tuesday giving a speech about global trade disruption to Saskatchewan business leaders. He warned that U.S. President Donald Trump\u2019s tariffs have hit trade-sensitive industries hard in Canada and put economic growth on a permanently lower trajectory. To break free of its reliance on the U.S. economy, Macklem argued that Canada needs to develop new global markets for its products and knock down the internal barriers hampering productivity. He drew a comparison to the 2008-09 global financial crisis and the spillover effects a U.S. collapse at the time had on Canada. \u201cEveryone talked about… <\/p>\n
By Craig Lord The head of the Bank of Canada says the country waited too long to reduce its economic dependence on the United States and is paying the price today. Governor Tiff Macklem was in Saskatoon Tuesday giving a speech about global trade disruption to Saskatchewan business leaders. He warned that U.S. President Donald Trump\u2019s tariffs have hit trade-sensitive industries hard in Canada and put economic growth on a permanently lower trajectory. To break free of its reliance on the U.S. economy, Macklem argued that Canada needs to develop new global markets for its products and knock down the internal barriers hampering productivity. He drew a comparison to the 2008-09 global financial crisis and the spillover effects a U.S. collapse at the time had on Canada. \u201cEveryone talked about... <\/p>\n