Rules-based trade with U.S. is ‘over’: Canada central bank head

Toronto –

The era of rules-based trade with the United States is “over,” Canada’s central bank governor said Wednesday, echoing a stark warning from the country’s prime minister that President Donald Trump’s impact on global trade is permanent.

Bank of Canada Governor Tiff Macklem made the comments during an interest rate announcement which held the key rate at 2.25%, citing “unpredictable” U.S. trade policies.

Macklem has repeatedly warned that the bank’s efforts to forecast the Canadian economy had grown increasingly difficult given the tariffs imposed and threatened by Trump.