Deloitte Canada cuts GDP forecast by 20% as tariffs grip economy amid Trump's trade war

Deloitte Canada's latest economic forecast has slashed its 2027 GDP growth projection by 20%, attributing the downgrade to the mounting pressures from tariffs amid the ongoing trade war initiated by the Trump administration. This new American ban on select Canadian imports has exacerbated the economic strain on both consumers and businesses. With these revised projections, it's clear that the trade war's impact is already reshaping Canada's economic landscape, potentially affecting everything from consumer prices to business investment decisions.