0958 ET - Canada has unexpectedly gained a slight advantage over other global economies as it faces a much lower tariff rate from the US than initially anticipated, says Stephen Brown, economist at Capital Economics. "Exports are therefore unlikely to fall by as much," he says in a note titled, "Trump makes Canada okay again." Brown says Canada now likely avoids a recession but the outlook remains "gloomy," given unrest in the country's auto sector--highlighted by Stellantis' decision to temporarily pause production at a plant in Windsor, Ontario. Brown still expects the Bank of Canada to cut its rate by another 0.75 percentage point to 2%. (paul.vieira@wsj.com; @paulvieira)
(END) Dow Jones Newswires
April 03, 2025 09:58 ET (13:58 GMT)
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