1005 ET - The difficult adjustment for Canada's economy to trade uncertainty continues, with manufacturing, wholesale and administrative support industries contracting month-over-month in November, says Manulife Investment Management's Dominique Lapointe. The latest data means GDP is set for a renewed contraction in 4Q 2025. Lapointe notes President Trump's threat overnight to decertify all planes made in Canada and impose a 50% tariff on new Canadian planes sold in the U.S. only adds to uncertainty and reinforces his conviction that a negotiated free trade deal looks increasingly unlikely in 2026. He adds market pricing is currently broadly in line with his forecast for no change in the Bank of Canada's policy interest rate this year. (robb.stewart@wsj.com; @RobbMStewart)
(END) Dow Jones Newswires
January 30, 2026 10:05 ET (15:05 GMT)
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