These disputes can cause shifts in global markets that affect the prices of many of the commodities we produce. Reflecting this, the prices of base metals and some agricultural products have softened. Saskatchewan was among the provinces to experience this effect earlier in the summer. It is important to recognize that the challenges facing Canadian exporters are not only about NAFTA and tariffs.
Concerns about weak business investment, firms 7  See K. Charbonneau and A. Landry, “Estimating the Impacts of Tariff Changes: Two Illustrative Scenarios,” Bank of Canada Staff Analytical Note No. 2018-29 (September 2018). 8  This estimate includes the impact of tariffs previously imposed by the United States on Canadian softwood lumber and newsprint as well as the new tariffs on steel and aluminum.