Economics
Trump’s Tussle With Trudeau Wallops Canadian Consumer Confidence
- Outlook takes a hit after U.S. president’s tussle with Trudeau
- Economic optimism hits lowest since 2015 technical recession
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Escalating trade friction with the U.S. is spooking Canadian households and sending consumer confidence into a slide.
Polling by Nanos Research for Bloomberg News shows a sharp deterioration in household sentiment gauges since Donald Trump and Prime Minister Justin Trudeau squared off over trade issues after a Group of Seven summit two weeks ago, which included a threat by Trump that the dispute is “going to cost a lot of money for the people of Canada.” The decline has been most acute in Canadians’ expectations for growth, which have fallen to the weakest levels in more than two years.