In the days leading up to Mark Carney’s first budget last fall, the prime minister delivered an address that included an ominous but vague warning about needing to make sacrifices in the face of American antagonism.
The budget came and went, and it was never made clear what Carney had had in mind. Now, Canadians are about to learn what his statement really meant — and it’s not pretty.
Most economic modelling of the fallout from the current trade war has shown acute pain in specific areas, as well as some mild, temporary hurt in the broader economy, followed by a recovery.
