Would Trump's 25 per cent tariff plunge Canada into a depression?

U.S. president-elect Donald Trump arrives before the launch of the sixth test flight of the SpaceX Starship rocket Tuesday, Nov. 19, 2024 in Boca Chica, Texas. (Brandon Bell/Pool via AP)

Forecasts for the Canadian economy in the event the United States introduces a 25 per cent tariff on all of our exports into our southern neighbour have been grim, with many forecasts suggesting it would send us into a recession.

But could Canada be in for an economic fall that would be even worse?

Carleton University Sprott School of Business associate professor Ian Lee outlined the risks we face on Newstalk 580 CFRA's The Morning Rush with Bill Carroll on Monday.