Canada’s new leader previously denounced Trump’s planned tariffs on the country, saying Canadians would “stand up to a bully.”

The outlook for the U.S. economy this year isn’t so rosy anymore. Goldman Sachs Chief Economist Jan Hatzius cut his 2025 U.S. GDP growth forecast to 1.7%, pointing to the impact of tariffs on the economy and consumers.

Goldman Sachs is the latest economic forecasting team to downgrade its outlook as Trump's tariffs are expected to weigh on growth and boost inflation.

Goldman Sachs on Monday downgraded its 2025 projection for U.S. economic growth to 1.7% from 2.4%, citing its outlook on the Trump administration's trade policy for the cut. Goldman said its trade policy assumptions have “become considerably more adverse,