As tariffs rise and trade tensions escalate, many Canadians may be left wondering how their finances, job security and retirement plans could be affected by economic uncertainty.
The U.S. trade war, marked by tariffs on Canadian and Mexican goods and increased duties on Chinese imports, is impacting Canada's economy, causing job insecurity, rising consumer prices, and market volatility. Prime Minister Trudeau highlights the negative economic effects. Financial advisors recommend reassessing investments, especially for those nearing retirement, and suggest consulting employers and financial planners. Industries like manufacturing face higher risks. Advice includes avoiding unnecessary debt and adjusting financial strategies during this period of uncertainty.
