People Mentioned
Special Advisor, Ottawa
Many questions are emerging about the impact on the Canadian economy as a result of potential policy changes in Canada and the United States as President-elect Donald Trump talks about implementing tariffs on imports from Canada.
CTV News Channel’s political program Power Play, recently featured an episode with Osler Special Advisor, Stephen Poloz on Trump tariffs and interest rates.
Speaking to host Vassy Kapelos, he shared his insights on interest rates and their impact on consumer spending. He also discussed the implications of tariffs being imposed on Canadian products by the United States. In the conversation, Stephen highlighted the deep trade relationship between Canada and the U.S., where Canadian resources like oil, steel and lumber among others, are highly integrated businesses. He hopes that leaders can recognize this interconnection and that they can arrive at meaningful agreements. Stephen continues “but we know which side our bread is buttered on. We have to protect that trade relationship no matter what.”
Listen to the full episode here
On November 22, 2024, CBC Listen’s on-demand series The House presented an episode “A tax holiday, Trump tariffs, and killer robots” featuring Stephen. Hosted by Catherine Cullen, Stephen commented on the temporary tax break and the impending cheques Canadians will receive from the federal government.
With current interest rates and less purchasing power, he believes that sending small cheques out to Canadians will not be inflationary, it will simply limit the downside we have in the inflation rate. When asked whether the federal government can afford to give Canadians these relief measures, he suggests “boosting consumption is probably not the most important thing for us right now, boosting investment would be much more beneficial for the economy longer term because it will help us grow.”
Listen to the full episode here
People Mentioned
Special Advisor, Ottawa
