With the US and Canada locked in a trade war, fears of a recession lurk

The trade war initiated by US President Donald Trump with Canada is expected to harm businesses in both countries, but experts believe the impact on the Canadian economy will be worse, raising the chances of a recession. Following the collapse of trade negotiations, the US imposed 50 percent tariffs on $20 billion worth of Canadian goods. In response, Canadian Prime Minister Mark Carney unveiled retaliatory measures against over 700 US products, also valued at $20 billion.