Canadian Economy Contracts 1.6% in Q2 Amid Tariff Impact
Canadian Economy Contracts 1.6% in Q2 Amid Tariff Impact
Canada's economy contracted by 1.6 percent in the second quarter as exports fell due to US President Donald Trump's tariffs, the government reported Friday.
It was the first decline in the Canadian GDP in seven quarters, said Statistics Canada, which also revised downward its estimate of first quarter growth, from an annual rate of 2.2 percent to 2.0 percent.
