Analysis by Region - Emerging Markets - Botswana

We've trimmed our GDP growth forecasts for Canada by 0.1ppt to 1.4% in 2025 and 1.6% in 2026. New targeted US-Canada 25% tariffs will push prices higher and drag on GDP growth, but the lingering threat of blanket US tariffs risks derailing Canada's economic expansion entirely.


Canada: Likely US-Canada trade war has dampened the outlook
Forecast overview
Recent developments
Short-term outlook
Key drivers of our short-term forecast
Economic risk
Economic risk evaluation
Risk warnings
What to watch out for
Exposure to key global risks
Long-term prospects
Background
Economic development
Structure of the economy
Balance of payments and structure of trade
Policy
Politics

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