March 2025 Economic Brief

The recent implementation of U.S. tariffs has introduced significant economic uncertainty. The U.S. imposed a 25% import tax on goods from Canada and Mexico and a 20% tariff on goods from China. In response, the Government of Canada announced 25% retaliatory tariff on goods imported from the U.S. While the full scope and duration of these tariffs remain unclear, their impact will undoubtedly be felt on both sides of the border.