Learn languages naturally with fresh, real content!

Popular Topics
Explore By Region
U.S. tariffs could slash global income by 2% if reaching 10%, costing $2 trillion this year, warns former Bank of Canada governor Stephen Poloz.
Former Bank of Canada governor Stephen Poloz warned that U.S. tariffs could cause unprecedented economic harm, potentially reducing global income by nearly 2 percentage points if they reach 10%, leading to $2 trillion in losses this year and $40 trillion over ten years.
He called the impact the "greatest intentional destruction of income ever," citing effects on economies, politics, and consumer behavior, with risks of recession or lasting global shifts.
Speaking at a Toronto AI symposium, Poloz also highlighted rising inequality in the digital age and urged nations to adapt by reducing trade barriers and embracing artificial intelligence.
Los aranceles estadounidenses podrían reducir el ingreso mundial en un 2% si alcanzan el 10%, costando $ 2 billones este año, advierte el ex gobernador del Banco de Canadá, Stephen Poloz.