Fall fiscal update to grapple with Trump presidency, expected to show larger deficit

Politics and Government Politics and Government

Mon, December 16, 2024

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Fall fiscal update to grapple with Trump presidency, expected to show larger deficit

^{Published on 2024-12-16 02:01:03 - MSN}

The Liberals' fall economic statement Monday is expected to show a larger-than-promised deficit and offer details on how the government will tackle the threat of U.S. tariffs ahead of Donald Trump's inauguration in the new year.

The article from MSN discusses Canada's upcoming fall fiscal update, which is set to address the economic implications of a potential second term for Donald Trump as U.S. President. Finance Minister Chrystia Freeland is expected to present a fiscal update showing a larger federal deficit than previously forecasted, influenced by factors such as increased spending on housing, defense, and support for Ukraine. The update will also consider the economic uncertainty brought by the U.S. election, with Trump's policies potentially affecting trade relations, particularly through the renegotiation of the USMCA (United States-Mexico-Canada Agreement). The article highlights concerns over Trump's previous tariff impositions and the possibility of similar or escalated trade tensions if he returns to office. Additionally, the fiscal update might include measures to bolster Canada's economic resilience against such uncertainties, with a focus on maintaining fiscal responsibility while addressing immediate economic pressures.

Read the Full MSN Article at:
[ https://www.msn.com/en-ca/politics/government/fall-fiscal-update-to-grapple-with-trump-presidency-expected-to-show-larger-deficit/ar-AA1vTa3u ]

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