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Bank of Canada governor warns trade war with U.S. could severely damage Canada's economy.
Bank of Canada Governor Tiff Macklem warns that a trade war with the U.S. could severely harm Canada's economy, possibly leading to reduced growth and higher inflation.
While the bank can lower interest rates to support the economy, Macklem notes these tools are limited and excessive use could fuel inflation.
Exports to the U.S. account for about one-third of Canada’s national income, highlighting the potential economic impact of a trade conflict.
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El gobernador del Banco de Canadá advierte que la guerra comercial con EE.UU. podría dañar gravemente la economía de Canadá.