Skip to main content
Canada
US
Global
Français
Forecasts
Financial Markets
Economy
Commentaries
Government Finance & Policy
Labour
Real Estate
Consumer
Trade
Business Investment
Provincial & Local Analysis
Commodities & Industry
Future Ready Economy
Media
TD Economics
Analysis covering the globe
Feature
Economy
U.S. Liberation Day Binds The World To High Tariffs
The U.S. administration announced broad reciprocal tariffs today, targeting all trading partners, and not just the countries that run large trade surpluses with the U.S. The tariffs will be implemented under the International Emergency Economic Powers Act (IEEPA) of 1977.
April 02, 2025
Trending
U.S. Imposes 25% Auto Tariffs
President Trump announced that on April 3rd, the U.S. will place 25% tariffs on all imported passenger cars and light trucks. However, imported vehicles from Canada and Mexico that are compliant with the USMCA will face the 25% tariff only on the value of content produced outside of the U.S.
March 27, 2025
Updated Publications
Provincial Housing Market Outlook: Housing on Shaky Foundation Amid Tariff Turbulence
The one-two punch of winter storms and tariff-related economic uncertainty sent a chill through Canadian housing markets in the first quarter. We’re now tracking a double-digit quarterly decline in Canadian home sales and a mid-single digit drop in Canadian average home prices.
March 26, 2025
Updated Publications
Provincial Economic Forecast
We’ve slashed our real GDP growth forecasts for this year from coast-to-coast, reflecting the impact of the Canada-U.S. trade war. Solid Q1 activity across regions will buffer annual averages, but we foresee a mild recession unfolding for Canada in the middle-part of this year.
March 19, 2025
Updated Publications
Canadian Quarterly Economic Forecast
Once again, policy shifts from the Trump administration are the main forecast theme this quarter, underpinning a downgrade to the global outlook. There is no way of knowing with certainty what tomorrow will bring in this on-again, off-again policy environment, forcing us to lay out a balanced set of assumptions to underpin this forecast cycle.
March 18, 2025
Previous
Next
Updated Publications
Updated Publications
Weekly Bottom Line
March 28, 2025
Updated Publications
2025 Quebec Budget
March 26, 2025
Updated Publications
Provincial Housing Market Outlook: Housing on Shaky Foundation Amid Tariff Turbulence
March 26, 2025
Updated Publications
2025 Manitoba Budget
March 21, 2025
Previous
Next
Updated Publications
Weekly Bottom Line
March 28, 2025
Updated Publications
2025 Quebec Budget
March 26, 2025
Updated Publications
Provincial Housing Market Outlook: Housing on Shaky Foundation Amid Tariff Turbulence
March 26, 2025
Updated Publications
2025 Manitoba Budget
March 21, 2025
View more updated publications
Latest Research
Economy
U.S. Liberation Day Binds The World To High Tariffs
April 02, 2025
Economy
TD Credit and Debit Card Spend Report: Consumers Temper Optimism as Trade Tensions Escalate
March 17, 2025
Economy
Vancouver’s Housing Foundation is Firmer than Toronto’s
March 06, 2025
Media
WATCH: Derek Burleton discuss what tariffs and trade uncertainty could mean for Canada's economy on MoneyTalk
March 06, 2025
Previous
Next
Economy
U.S. Liberation Day Binds The World To High Tariffs
April 02, 2025
Economy
TD Credit and Debit Card Spend Report: Consumers Temper Optimism as Trade Tensions Escalate
March 17, 2025
Economy
Vancouver’s Housing Foundation is Firmer than Toronto’s
March 06, 2025
Media
WATCH: Derek Burleton discuss what tariffs and trade uncertainty could mean for Canada's economy on MoneyTalk
March 06, 2025
View more latest research
Commentaries
Commentaries
Canadian Monthly GDP (January 2025)
March 28, 2025
Trending
U.S. Imposes 25% Auto Tariffs
March 27, 2025
Consumer
Canadian Retail Sales (January 2025)
March 21, 2025
Commentaries
Canadian Consumer Price Index (February 2025)
March 18, 2025
Previous
Next
Commentaries
Canadian Monthly GDP (January 2025)
March 28, 2025
Trending
U.S. Imposes 25% Auto Tariffs
March 27, 2025
Consumer
Canadian Retail Sales (January 2025)
March 21, 2025
Commentaries
Canadian Consumer Price Index (February 2025)
March 18, 2025
View more commentaries
