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Deloitte warns of a 3% GDP drop by 2030 for Canada due to tariffs and lost U.S. free trade.
Deloitte warns that the impact of tariffs on Canada's economy and jobs is intensifying as the short-term benefits from front-loaded business activities fade.
The uncertainty from trade policies is causing a significant drop in investments and rising unemployment.
Deloitte predicts a modest economic downturn, with Canada's real GDP potentially reducing by around 3% by 2030 if free trade with the U.S. is lost.
In the near term, Canada's GDP is expected to shrink by 1.1% in the second quarter and an additional 0.9% in the third quarter, with unemployment peaking at 7.5% before declining in the following year.
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Deloitte advierte de una caída del 3% del PIB para 2030 para Canadá debido a los aranceles y la pérdida del libre comercio estadounidense.