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Canada at a Crossroads: Jim Stanford on Tariffs, Recession Risk, and Rethinking Economics

What happens when a leading economist breaks down the storm clouds gathering over Canada’s economy? Jim Stanford, Director of the Centre for Future Work, delivers a compelling analysis of how looming U.S. tariffs could trigger a recession on par with the downturns of the 1980s and ’90s.

Stanford argues we’re living through “a hinge point in history”—a moment demanding a shift in economic thinking. He outlines how Trump’s threatened tariffs could damage Canada through multiple channels: collapsing exports, frozen investments, jittery consumers, and a slowing global economy. Even if the threats vanish tomorrow, Stanford warns the uncertainty has already done real harm.

But this isn’t just doom and gloom.

Stanford pushes back against overblown claims that interprovincial trade barriers are costing the economy hundreds of billions, calling them political theater. The real story? Most barriers are minor—things like alcohol regulations and licensing rules—not massive economic roadblocks.

And here’s the twist: 80% of Canada’s GDP is created and consumed within our borders. That domestic strength, Stanford says, offers critical resilience. He makes the case for strategic industrial policy, crediting government involvement for successes in auto, aerospace, telecom—and even the oil sands.

If you're looking for a fresh, unfiltered take on Canada’s economic future—one that’s honest about the risks but clear-eyed about the opportunities—this episode is for you.

Tune in now to understand what’s really at stake, and how Canada can chart a smarter, more resilient path forward.

Quick heads up this episode was recorded on June 9, 2025 so while the news may have changed since this conversation was recorded. The thoughts and ideas still remain relevant.

Check out some of Jim Stanford's work here:

Here’s why we will survive Donald Trump’s tariffs — the answer is right in front of us`