Trudeau’s Finance Chief Says Coronavirus Will Take ‘Real’ Toll

Finance Minister Bill Morneau warned the spread of the coronavirus is likely to have a “real” impact on Canada’s economy given far-reaching, global knock-on effects.

At a breakfast speech in Calgary, Morneau said the deadly viral outbreak that began in China is expected to have a “significant” impact on global growth that will spillover into Canada as it disrupts tourism and supply chains, and lowers commodity prices. He said oil prices have fallen 15% as a result of reduced demand, for example.