this post was submitted on 29 Aug 2025
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Canada

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The Canadian economy contracted for the first time in nearly two years as the trade war with the US pinched exports and business investment. Canada’s gross domestic product shrank at a 1.6% annualized pace in the second quarter, Statistics Canada reported Friday from Ottawa. That’s the biggest decline since the Covid-19 pandemic and the first contraction in nearly two years.

Web Archive: https://archive.is/Ku8H0#selection-1467.0-1575.306

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[–] Shadow@lemmy.ca 4 points 6 days ago (1 children)

Exports fell 27% on an annualized basis as US tariffs on Canadian goods shattered the country’s shipments abroad

27% is pretty significant.

[–] HikingVet@lemmy.ca 10 points 6 days ago

With trade deals with other countries set to kick in this should only be temporary.