{"id":9069,"date":"2025-07-25T13:57:16","date_gmt":"2025-07-25T13:57:16","guid":{"rendered":"https:\/\/legendfusions.com\/ca\/?p=9069"},"modified":"2025-07-25T14:23:08","modified_gmt":"2025-07-25T14:23:08","slug":"trade-war-canada-recession","status":"publish","type":"post","link":"https:\/\/legendfusions.com\/ca\/trade-war-canada-recession\/","title":{"rendered":"Could a trade war trigger Canada&#8217;s next recession?"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"9069\" class=\"elementor elementor-9069\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-39613402 pbmit-col-stretched-none pbmit-cursor-color-blackish-color pbmit-bg-color-over-image elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"39613402\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2b9307a3 pbmit-bg-color-over-image\" data-id=\"2b9307a3\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-66fa2c6 elementor-widget elementor-widget-text-editor\" data-id=\"66fa2c6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span data-contrast=\"auto\">Canada\u2019s economy is heading into rough waters once again. A new report from Oxford <\/span><span data-contrast=\"auto\">Economics warns that ongoing trade disputes could tip the Canadian economy into a recession lasting through the end of 2025, despite efforts to boost defence spending.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">The July 17 report paints a sobering picture: GDP contraction, rising unemployment, and the potential for significant job losses <\/span><span data-contrast=\"auto\">if trade war tensions continue escalating through Q3 and Q4.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9051cf8 pbmit-animation-none elementor-widget elementor-widget-image\" data-id=\"9051cf8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"847\" height=\"476\" src=\"https:\/\/legendfusions.com\/ca\/wp-content\/uploads\/2025\/07\/July25-News_Trade-war-between-US-and-CA-An-impact-analysis.png\" class=\"attachment-large size-large wp-image-9077\" alt=\"Trade tensions may push Canada into recession \u2014 prepare finances now.\" srcset=\"https:\/\/legendfusions.com\/ca\/wp-content\/uploads\/2025\/07\/July25-News_Trade-war-between-US-and-CA-An-impact-analysis.png 960w, https:\/\/legendfusions.com\/ca\/wp-content\/uploads\/2025\/07\/July25-News_Trade-war-between-US-and-CA-An-impact-analysis-300x169.png 300w, https:\/\/legendfusions.com\/ca\/wp-content\/uploads\/2025\/07\/July25-News_Trade-war-between-US-and-CA-An-impact-analysis-768x432.png 768w\" sizes=\"(max-width: 847px) 100vw, 847px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b5dc7fe elementor-widget elementor-widget-pbmit_custom_heading\" data-id=\"b5dc7fe\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"pbmit_custom_heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t<div class=\"pbmit-custom-heading \"><h3 class=\"pbmit-element-title\">\r\n\t\t\t\r\n\t\t\t\tReport\u2019s Economic Projections: \r\n\t\t\t\r\n\t\t\t<\/h3>\r\n\t\t<\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5ff4490 elementor-widget elementor-widget-text-editor\" data-id=\"5ff4490\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ul><li>GDP expected to shrink by 0.9% by Q4\u00a0<\/li><li>Unemployment rate projected to climb to 7.4% (from 6.1% in early 2025)\u00a0<\/li><li>Up to 180,000 jobs at risk, particularly in manufacturing, transport, and export-heavy industries\u00a0<\/li><li>Consumer confidence forecast to decline, especially among middle-income households\u00a0<\/li><\/ul><p>Despite federal tax relief measures introduced earlier this year, investor sentiment is cooling, and concerns about long-term stability are growing.\u00a0<\/p><p>\u201cCanada\u2019s defence investment is vital. But it won\u2019t shield the economy from the ripple effects of a prolonged trade war,\u201d the report notes.\u00a0<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-664c1b4 elementor-widget elementor-widget-pbmit_custom_heading\" data-id=\"664c1b4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"pbmit_custom_heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t<div class=\"pbmit-custom-heading \"><h3 class=\"pbmit-element-title\">\r\n\t\t\t\r\n\t\t\t\tTrade War: The Core Threat \r\n\t\t\t\r\n\t\t\t<\/h3>\r\n\t\t<\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9403b93 elementor-widget elementor-widget-text-editor\" data-id=\"9403b93\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span data-contrast=\"auto\">The expected downturn is mainly due to rising trade tensions with major partners like the U.S. and China. Tariffs, supply chain issues, and retaliation are hurting Canada\u2019s trade balance and weakening business confidence.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Many Canadian businesses are already holding off on growth, cutting back on hiring, and preparing for tougher financial conditions.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4f934d7 elementor-widget elementor-widget-pbmit_custom_heading\" data-id=\"4f934d7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"pbmit_custom_heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t<div class=\"pbmit-custom-heading \"><h3 class=\"pbmit-element-title\">\r\n\t\t\t\r\n\t\t\t\tWhat Should Canadians Do? \r\n\t\t\t\r\n\t\t\t<\/h3>\r\n\t\t<\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3db97f9 elementor-widget elementor-widget-text-editor\" data-id=\"3db97f9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>While the forecast may seem grim, now is the time for proactive planning and a recession-resilient strategy.\u00a0<\/p><p>Smart financial moves to make right now:\u00a0<\/p><ul><li>Build or bolster your emergency fund (aim for 3\u20136 months of expenses)\u00a0<\/li><li>Diversify your investments to reduce reliance on any one sector or market\u00a0<\/li><li>Review and reduce high-interest debt to improve cash flow flexibility\u00a0<\/li><li>Seek professional financial advice before making large financial moves or asset reallocations\u00a0<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c757edd elementor-widget elementor-widget-pbmit_custom_heading\" data-id=\"c757edd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"pbmit_custom_heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t<div class=\"pbmit-custom-heading \"><h2 class=\"pbmit-element-title\">\r\n\t\t\t\r\n\t\t\t\tFinal Thoughts \r\n\t\t\t\r\n\t\t\t<\/h2>\r\n\t\t<\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-15a1189 elementor-widget elementor-widget-text-editor\" data-id=\"15a1189\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span data-contrast=\"auto\">In the event of economic uncertainty, preparation is your greatest asset. The time to strengthen your financial foundation is <\/span><span data-contrast=\"auto\">now.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">At <\/span>Legend Fusions<span data-contrast=\"auto\">, our team of experts can guide you through financial planning, debt management, and investment strategy. Even when the markets get turbulent, you will have peace of mind that you were prepared!<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">\ud83d\udce9 <\/span><b><span data-contrast=\"auto\">Book a free financial strategy session<\/span><\/b><span data-contrast=\"auto\"> and future-proof your finances today.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f494a4d elementor-widget elementor-widget-pbmit_custom_heading\" data-id=\"f494a4d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"pbmit_custom_heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t<div class=\"pbmit-custom-heading \"><div class=\"pbmit-element-title\">\r\n\t\t\t\r\n\t\t\t\tReviewed by:\r\n\t\t\t\r\n\t\t\t<\/div>\r\n\t\t<\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-25db376 pbmit-col-stretched-none pbmit-cursor-color-blackish-color pbmit-bg-color-over-image elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"25db376\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-e37ad8b pbmit-bg-color-over-image\" data-id=\"e37ad8b\" data-element_type=\"column\" data-e-type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b644109 elementor-position-left elementor-position-top elementor-vertical-align-top elementor-widget elementor-widget-image-box\" data-id=\"b644109\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img decoding=\"async\" width=\"1883\" height=\"1883\" src=\"https:\/\/legendfusions.com\/ca\/wp-content\/uploads\/2024\/12\/fotor-20250210164948.png\" class=\"attachment-full size-full wp-image-3060\" alt=\"Jeffery\" srcset=\"https:\/\/legendfusions.com\/ca\/wp-content\/uploads\/2024\/12\/fotor-20250210164948.png 1883w, https:\/\/legendfusions.com\/ca\/wp-content\/uploads\/2024\/12\/fotor-20250210164948-300x300.png 300w, https:\/\/legendfusions.com\/ca\/wp-content\/uploads\/2024\/12\/fotor-20250210164948-1024x1024.png 1024w, https:\/\/legendfusions.com\/ca\/wp-content\/uploads\/2024\/12\/fotor-20250210164948-150x150.png 150w, https:\/\/legendfusions.com\/ca\/wp-content\/uploads\/2024\/12\/fotor-20250210164948-768x768.png 768w, https:\/\/legendfusions.com\/ca\/wp-content\/uploads\/2024\/12\/fotor-20250210164948-1536x1536.png 1536w\" sizes=\"(max-width: 1883px) 100vw, 1883px\" \/><\/figure><div class=\"elementor-image-box-content\"><p class=\"elementor-image-box-title\">Jeffrey Ross  <\/p><p class=\"elementor-image-box-description\">Jeffrey Ross is an experienced tax accountant focused on US-Canada cross-border taxation, with over three years in the industry, including a key role as client manager at a Canadian tax firm. He provides expertise in corporate and personal tax planning, specializing in non-resident tax, capital gains, CRA and IRS compliance, and retirement planning. Known for his personalized approach, Jeffrey is dedicated to guiding clients with clear, practical advice tailored to complex tax scenarios, aligned with the evolving tax laws. <\/p><\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1ad454b elementor-widget__width-initial elementor-shape-rounded elementor-grid-0 e-grid-align-center elementor-widget elementor-widget-social-icons\" data-id=\"1ad454b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"social-icons.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-social-icons-wrapper elementor-grid\">\n\t\t\t\t\t\t\t<span class=\"elementor-grid-item\">\n\t\t\t\t\t<a class=\"elementor-icon elementor-social-icon elementor-social-icon-linkedin elementor-repeater-item-2e23a96\" href=\"https:\/\/www.linkedin.com\/in\/jeffrey-ross-401011115\/?utm_source=share&#038;utm_campaign=share_via&#038;utm_content=profile&#038;utm_medium=ios_app\" target=\"_blank\" rel=\"noopener\">\n\t\t\t\t\t\t<span class=\"elementor-screen-only\">Linkedin<\/span>\n\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fab fa-linkedin\"><\/i>\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Canada\u2019s economy is heading into rough waters once again. A new report from Oxford Economics warns that ongoing trade disputes could tip the Canadian economy into a recession lasting through the end of 2025, despite efforts to boost defence spending.\u00a0 The July 17 report paints a sobering picture: GDP contraction, rising unemployment, and the potential [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":9076,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[36],"tags":[],"class_list":["post-9069","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/legendfusions.com\/ca\/wp-json\/wp\/v2\/posts\/9069","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/legendfusions.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/legendfusions.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/legendfusions.com\/ca\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/legendfusions.com\/ca\/wp-json\/wp\/v2\/comments?post=9069"}],"version-history":[{"count":12,"href":"https:\/\/legendfusions.com\/ca\/wp-json\/wp\/v2\/posts\/9069\/revisions"}],"predecessor-version":[{"id":9086,"href":"https:\/\/legendfusions.com\/ca\/wp-json\/wp\/v2\/posts\/9069\/revisions\/9086"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/legendfusions.com\/ca\/wp-json\/wp\/v2\/media\/9076"}],"wp:attachment":[{"href":"https:\/\/legendfusions.com\/ca\/wp-json\/wp\/v2\/media?parent=9069"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/legendfusions.com\/ca\/wp-json\/wp\/v2\/categories?post=9069"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/legendfusions.com\/ca\/wp-json\/wp\/v2\/tags?post=9069"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}<!-- This website is optimized by Airlift. Learn more: https://airlift.net. Template:. Learn more: https://airlift.net. Template: 6a729b8d190636b3221a3d67. Config Timestamp: 2026-08-05 02:10:20 UTC, Cached Timestamp: 2026-08-07 15:03:07 UTC -->