Tariffs are hurting U.S. manufacturing sector too, economist warns as Canada's GDP stalls [BNN Bloomberg (Canada)]
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Source: BNN Bloomberg
His comments come after Statistics Canada released its November GDP data on Friday pointing to a soft fourth quarter, with the manufacturing sector dragging on the economy after posting a 1.3 per cent decline. A global shortage of microchips stalled production at a major Canadian auto plant, by 6.4 per cent, creating a “bottleneck” for vehicle and parts output, the agency said. While Canada's manufacturing sector is already under pressure from ongoing trade tensions, the fallout is not confined to Canada alone. “These tariffs are not going to allow for the U.S. to be any more competitive,” Pedro Antunes, chief economist at Signal49 Research, told BNN Bloomberg. “In fact, they're hurting our competitiveness North America wide when we think about our positioning on the global stage.” Antunes said when the U.S. applies tariffs on Canadian steel, aluminum, or auto-related products, the impact extends beyond a single product or sector. Those materials often cross the border mu
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