Nothing had been constant in the economy for years. It fluctuates from time to time in response to various factors. The U.S. economy is doing much better now after the most recent recession and business is starting to pick up. As a result, the unemployment rate has reduced and the people have more spending power.
However, you can also see many shops closing down because fewer people frequents the mall anymore when they can do their shopping online. Such an irony, right? Employees will still lose their jobs and crime rates may again increase – as if law and order are not already a major headache right now.
So, we can’t say yet that the economy is in great shape again. Moreover, the controversial policies of President Trump are sure to affect the U.S. economy in a major way.
The budget, the Liberal government’s second since the 2015 election, will land as Ottawa and corporate Canada scramble to assess the risks of possible and unpredictable policy actions from the country’s top trading partner.
There are fears of negative economic fallout for Canada from the decisions of the Trump administration and it’s unclear whether Morneau’s budget will account for the unknowns.
Trump calling cards like a border tax, protectionist policies, corporate and personal tax cuts and a renegotiated North American Free Trade Agreement all pose an economic danger north of the border.