Even if Donald Trump puts tariffs on several Canadian exports, the country should not go into an economic recession.
That’s according to economist Pierre Cléroux, who spoke at a panel by the Halifax Chamber of Commerce on Thursday. He’s the vice president of research and the chief economist with the Business Development Bank of Canada.
Cléroux says Trump would have to put tariffs on everything to stop the economy from growing.
“If it’s only limited to some sectors, although it will be difficult for those sectors, but it won’t lead to a recession,” he says.
He says tariffs on all Canadian exports would raise inflation in the states, which is why Trump will likely target specific sectors.
Trump’s press secretary recently reiterated that he plans to reveal some tariff plans on Saturday.
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