Bank of Canada governor Tiff Macklem said Friday that the economic damage from a trade conflict with the U.S. would be “structural.” In a speech before the Mississauga Board of Trade and the Oakville Chamber of Commerce, Macklem addressed trade tensions with the U.S. for the first time since the latest interest rate decision on Jan. 29, before U.S. President Donald Trump signed an executive order imposing tariffs on imports from Canada, Mexico and China. “Increased trade friction with the United States is a new reality,” he warned. “Unlike the pandemic, if tariffs persist there will be no economic bounceback.” https://www.thestar.com/business/no-economic-bounceback-in-event-of-prolonged-u-s-tariffs-bank-of-canada-warns/article_f58bf28a-eee9-11ef-a0dc-3f4cc8474f1c.html