As Canada stares down U.S. President Donald Trump\u2019s repeated threats of devastating tariffs, roughly half of Canadians and Americans believe their countries are in an economic recession right now, a new poll suggests.<\/p>\n
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The results of the Leger survey \u2014 which polled both Canadians and Americans \u2014 suggest that Canadian and Americans hold many similar views on the state of the economy and their personal financial status.<\/p>\n
The poll also suggests that 39 per cent of Canadians who are currently employed are worried about losing their jobs within the next 12 months \u2014 a three-point increase since last month.<\/p>\n
S\u00e9bastien Dallaire, Leger\u2019s executive vice-president for Eastern Canada, said that the results \u201cadd up to a long series of difficult moments.\u201d<\/p>\n
The poll was conduced between Feb. 14 and Feb. 17 and surveyed 1,550 Canadians and 1,000 Americans. Because it was conducted online, it can\u2019t be assigned a margin of error.<\/p>\n
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The survey says that 50 per cent of Canadians and 51 per cent of Americans polled believe that both countries are already in a recession.<\/p>\n
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Neither country is experiencing a recession right now but the Canadian Chamber of Commerce estimates that Trump\u2019s threatened 25 per cent, across-the-board tariffs would shrink Canada\u2019s economy by $78 billion and push the country into a recession by next summer.<\/p>\n
The chamber estimates the U.S. economy would also take a hit of US$467 billion.<\/p>\n
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