Solid economic growth, despite the U.S administration’s protectionist actions
The Canadian economy continues to grow, supported by higher exports and very good business investments levels.
However, interest rates increases in the last year have begun slowing down the housing market and household consumption. The imposition of 25% steel and 10% aluminum tariffs by the American administration is also causing some uncertainty. Nevertheless, we can say that the economy will see solid growth in 2018.
- It’s a good time to diversify export markets; the Canadian dollar remains low, favoring Canadian exporters.
- Interest rates remain low: It's a good time to invest in technology to make your business more profitable and competitive.
- The impact of steel and aluminum tariffs is minimal for the Canadian economy. However, entrepreneurs affected by these tariffs can benefit from BDC's support.