Canada’s economy is stuck in a state of “suspended animation,” with major new investments largely on hold, but may start to recover in the coming months, according to the head of one of the country’s largest banks.

From 2019 to 2021, first in the Trump administration and then in the Biden administration, she was Deputy Assistant U.S. Trade Representative for Investment. Geoffrey Gertz is a Senior Fellow in the Energy,

Sales of vehicles made in Canada plunged by nearly 23 percent in April after President Trump imposed a 25 percent auto tariff.

But many Minnesota factory heads have yet to see it, and instead are juggling budgets as orders dry up while their own costs continue to rise. “The tariffs have just caused us havoc. Complete and utter havoc,” said Dave Wedge, who manages Minnesota Twist Drill’s Chisholm and Hibbing drill bit factories.

Maine Governor Janet Mills emphasized the importance of the state's relationship with Canada amid President Donald Trump's ongoing trade war at the Governor's International Breakfast in Portland Monday.

Uncertainty prevails for business and households in Canada, and surveys indicate companies plan to scale back investment and have dropped hiring plans.

The Bank of Canada held its benchmark interest rate at 2.75% as tariff uncertainty lingers, including President Donald Trump's latest increase to steel and aluminum tariffs.