Bank of Canada’s Macklem ‘optimistic’ about pushing US to lower tariffs

Macklem's optimism is notable precisely because it is paired with an explicit warning that conditions could deteriorate first — a framing that treats tariff relief as a negotiation outcome rather than a baseline assumption. For cross-border trade and the currency-sensitive sectors tied to it, the signal is that policy risk stays live in both directions rather than resolving. The open question is whether that optimism reflects concrete movement in talks or simply a willingness to keep engaging; nothing in the remarks settles it.