Canada weathered the first tariff shocks. But Deloitte sees trouble ahead

By Tracy Moran
The National Post
October 9, 2026
Category: Finance & Economics
Region: Canada

The Canadian economy proved more resilient than feared earlier this year. Now, while many hope domestic infrastructure and investment projects will help the economy grow and boost its export diversification, the country is likely facing a period of slower growth in the short term. That’s why Deloitte Canada recently raised its forecast for this year but cut next year’s growth forecast from 2 to 1.6 per cent, a figure that accounts for Canada’s retaliatory tariffs but not the Sept. 15 expansion or the Sept. 29 import bans. To better understand where the economy has proven most resilient, and where future challenges lie, National Post reached out to Deloitte Canada’s Chief Economist Dawn Desjardins for some insights. ….What has kept Canada’s economy afloat so far, and why do you expect that resilience to weaken? …Dawn Desjardins: But for 2027, all the events of recent weeks and months certainly suggest that it’s having an impact on Canadian business confidence, Canadian consumer confidence. [A National Post subscription may be required for full access to this story]

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