Bank of Canada Governor Tiff Macklem expressed serious concerns about potential economic slowdown, indicating that new U.S. tariffs could halve fourth-quarter GDP growth. The governor highlighted escalating trade tensions and geopolitical instability as significant threats to Canada's economic recovery momentum. These external pressures could derail the fragile rebound currently underway, prompting policymakers to reassess economic forecasts and implement strategic responses to mitigate negative impacts on growth trajectories and employment levels.

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