Canadians worry about impact of trade war as pessimism about economy deepens
Concerns about the impact of U.S. tariffs are contributing to a growing pessimism among Canadians about the economy, employment and their own financial situation. The latest wave of the Survey on Employment and Skills finds that 83% of Canadians are very or somewhat worried about the impact that U.S. tariffs might have on the Canadian economy, and 47% of employed Canadians are very or somewhat worried about the impact that U.S. tariffs might have on their own job.
The dispute over trade and tariffs with the United States is only one factor contributing to a more pessimistic economic outlook that has emerged following the pandemic. The Survey on Employment and Skills finds that Canadians’ outlook on the economy and their own personal financial situation has been steadily worsening over the past few years. The more negative trends emerged following the peak of the COVID-19 pandemic, and long before the most recent U.S. presidential election.
Key insights
83% of Canadians are very or somewhat worried about the impact that U.S. tariffs might have on the Canadian economy.
47% of employed Canadians are very or somewhat worried about the impact that U.S. tariffs might have on their own job.
The proportion worried about the impact that U.S. tariffs might have on their own job is higher than average among: racialized workers (58%), immigrants (57%), those who work in in sales or retail jobs (56%), those who work in the skilled trades (55%), low-income earners (56%), and younger adults age 18-34 (52%).
More from FSC
Newcomer Entrepreneurship Program
Building Resiliency and Sustainability for the Bio-Economy to Withstand Disruption
