Bank of CanadaThe head of the Bank of Canada says the country waited too long to reduce its economic dependence on the United States and is paying the price today. Governor Tiff Macklem was in Saskatoon Tuesday giving a speech about global trade disruption to Saskatchewan business leaders. He warned that U.S. President Donald Trump’s tariffs have hit trade-sensitive industries hard in Canada and put economic growth on a permanently lower trajectory. Combined, Macklem said these measures could lift Canada’s economic growth above the trajectory seen before the U.S. tariff disruption. The Fed, like the Bank of Canada, cut its policy rate by a quarter point last week, though Trump had pushed for faster easing.