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Why Canada will be negatively impacted by the U.S. Inflation Reduction Act: Power Play with Vassy Kapelos


A panel of former NAFTA council members discuss why the U.S. Inflation Reduction Act presents a huge challenge for Canada's economic growth. Subscribe to CTV News to watch more videos: Connect with CTV News: For the latest news visit: For a full video offering visit the CTV News Network: CTV News on Facebook: CTV News on TikTok: CTV News on Twitter: CTV News on Instagram: CTV News on Reddit: --- CTV News is Canada's most-watched news organization both locally and nationally, and has a network of national, international, and local news operations....(read more)


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The U.S. Inflation Reduction Act is a piece of legislation that has caused much concern in Canada. The proposed act, which is currently being discussed in the U.S. Senate, aims to reduce inflation in the United States by implementing policies that would raise interest rates and limit government spending. While the act may be well-intentioned, it could have significant negative impacts on Canada's economy. Here's why: 1. Canadian exports could become less competitive. If the U.S. raises interest rates, the value of the U.S. dollar could also rise. This would make Canadian goods more expensive for U.S. consumers, potentially reducing demand for Canadian exports. 2. Canadian businesses could have difficulty securing loans. If the U.S. limits government spending, it could have a ripple effect on lending markets. Canadian businesses that rely on U.S. lenders or investors could find it harder to secure the financing they need to operate and grow. 3. Canadian interest rates could rise. In order to maintain a competitive exchange rate with the U.S., the Bank of Canada might feel compelled to raise interest rates as well. This could make it more expensive for Canadians to borrow money, leading to reduced spending and economic growth. 4. The Canadian dollar could depreciate. As the U.S. dollar becomes stronger, the Canadian dollar could weaken. This could make imported goods more expensive for Canadians, leading to higher inflation and reduced consumer spending. Overall, the U.S. Inflation Reduction Act could have serious consequences for Canada's economy. It is important for Canadian policymakers to pay close attention to the proposed legislation and its potential impacts, and to consider appropriate responses to protect Canadian interests. https://inflationprotection.org/why-canada-will-be-negatively-impacted-by-the-u-s-inflation-reduction-act-power-play-with-vassy-kapelos/?feed_id=84022&_unique_id=642a53c6927bb #Inflation #Retirement #GoldIRA #Wealth #Investing #America #AmericanInflation #biden #CanadaEconomicGrowth #CanadaU.S.relations #CTV #CTVNews #CTVPowerplay #inflation #InflationinCanada #inflationreductionact #InflationReductionActintheU.S. #JoeBiden #JustinTrudeau #JustinTrudeauNews #news #PMTrudeau #Powerplay #PrimeMinisterJustinTrudeauNews #trudeau #trudeaunews #U.S.News #U.S.PresidentJoeBiden #InvestDuringInflation #America #AmericanInflation #biden #CanadaEconomicGrowth #CanadaU.S.relations #CTV #CTVNews #CTVPowerplay #inflation #InflationinCanada #inflationreductionact #InflationReductionActintheU.S. #JoeBiden #JustinTrudeau #JustinTrudeauNews #news #PMTrudeau #Powerplay #PrimeMinisterJustinTrudeauNews #trudeau #trudeaunews #U.S.News #U.S.PresidentJoeBiden
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