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2025-07-31 00:01:34
[Bank of Canada: US Tariffs on Canadian Goods to Rise by About 5 Percentage Points in 2025] The Bank of Canada's Monetary Policy Report estimates that effective US tariffs on Canadian goods have risen by about 5 percentage points this year. Before Trump's return to the White House, trade between Canada and the US was almost entirely tariff-free thanks to the USMCA. The Bank of Canada estimates that Canadian exporters will achieve 95% compliance with the USMCA (100% for energy exporters). The Bank of Canada projects an annualized economic growth rate of 1% in the second half of the year if current tariffs remain in place.
