1623 ET - Bank of Canada Gov. Tiff Macklem says he's worried about an uptick in trade-policy uncertainty this summer when a U.S.-led review of the U.S.-Mexico-Canada trade pact, or USMCA, gets underway in earnest. The Trump administration needs to notify Congress about its intention to renew the deal, or choose another course. "There is a certain degree of unpredictability in our trade relationship with the U.S.," Macklem tells lawmakers at the legislature's finance committee. The U.S., he says, may this summer "come out with new threats, and they may make a lot of noise, so we'll see what they will throw at us." Macklem has cited a fresh round of U.S. tariffs affecting Canadian goods as a downward risk that may compel officials to cut interest rates.(paul.vieira@wsj.com; @paulvieira)

(END) Dow Jones Newswires

May 04, 2026 16:23 ET (20:23 GMT)

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