Tariffs and Oil: A Perfect Storm Brewing for Canadian Inflation Bank of Canada Governor Tiff Macklem's warning that inflation risks are on the rise should come as no surprise, given the ongoing trade war between the US and Canada.
The latest development – a new round of tariffs imposed by both countries – is one piece of a complex puzzle threatening to upend the country's economic recovery.
Macklem highlighted the pressing concern that higher energy costs and US tariffs are combining to create a perfect storm for inflation.