The Zhitong Finance App learned that the Oxford Institute of Economics warned that although the new round of retaliatory tariffs against the US planned to be implemented by Canada on September 8 can protect some local manufacturers, overall, it may cause more industries to bear upward pressure on costs and drag down Canada's economic growth. The agency predicts that due to the combined effects of US tariffs, Canadian countermeasures, and federal government aid plans, Canada's economic output in 2027 may fall by about 0.3% from the benchmark forecast.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.