RBC analysts quantify the economic fallout of U.S. Section 338 tariffs, estimating a 0.4% impact on Canadian GDP and employment as the labour market adjusts to new trade barriers.
RBC analysts are the source of the assessment, but the article does not discuss RBC's own financials.
Royal Bank of Canada analysts have assessed the latest Canadian labour market data in the wake of new U.S. Section 338 tariffs. The report indicates that approximately 0.4% of Canada's total GDP and employment levels are directly exposed to the specific sectors targeted by the U.S. trade measures.
RBC analysts estimate that approximately 0.4% of Canada's GDP and employment are tied to the specific U.S. demand sectors affected by the Section 338 tariffs.