Canada on brink of recession due to US tariffs: Report

Business Nov 07, 2025

Canada's economy is under serious pressure thanks to 25% tariffs from the US on key exports like cars and steel.
If these tariffs stick around, experts warn Canada could hit a recession by mid-2025, with each person losing about $1,900 a year.

Manufacturing has taken a big hit

Manufacturing has taken a big hit—35,000 jobs lost since February 2024—and unemployment is climbing fast.
Major layoffs (like 3,000 people at Stellantis in Ontario) are leaving communities struggling.
With most of Canada's exports tied to the US, this situation shows how risky it can be to rely so much on one trading partner.
It's a wake-up call for Canada to rethink its economic game plan and look beyond just the US for future stability.