Canada: 2025 Article IV Consultation-Press Release; and Staff Report

International Monetary Fund

No 2026/012, IMF Staff Country Reports from International Monetary Fund

Abstract: Canada is adjusting to the largest shift in North American trade policy since NAFTA. The economy has been more resilient than initially feared, supported by USMCA exemptions, resilient consumption, and policy cushioning. Nonetheless, elevated trade uncertainty has weighed on exports, investment, and confidence, reinforcing long-standing weaknesses in productivity and competitiveness.

Pages: 74
Date: 2026-01-21
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