Recently, US President Trump's decision to impose new tariffs on Canadian exports has caused serious concerns about Canada's economic prospects. The Bank of Canada estimates that if the United States imposes a 25% tariff on relevant products, it may cause the country's GDP to fall by nearly 4% in the next two years.

Despite external challenges, Canada has tremendous potential to become a global economic powerhouse. Canada is not only the second largest country in the world, but also has the world's longest coastline, and its geographical location is extremely advantageous for international trade.

Canada's natural resources are abundant, including the world's largest high-grade uranium reserves, the third largest proven oil reserves, and the world's fifth largest natural gas production. The country also has vast mineral resources, such as the world’s largest potash reserves, one-third of the world’s certified forests and one-fifth of its surface fresh water. Canada also has rich reserves of rare minerals such as cobalt, graphite and lithium, which are critical to renewable energy technologies.

Compared with other G7 countries, Canada has lower debt and fiscal deficit levels, which provides greater financing space for economic growth. The country has $1.6 trillion in pension funds under management that can be used for capital investment.

Experts suggest that Canada could learn from the Norwegian model and use natural resource revenues to establish a sovereign wealth fund to ensure long-term economic stability. As global demand for Canadian resources continues to rise, Canada is at a critical juncture and has the opportunity to leapfrog into becoming a world economic power through reform. By eliminating trade barriers, strengthening infrastructure, attracting talent and expanding international markets, Canada has the potential to occupy a more important position in the global economic landscape.

However, with a population of only 40 million, Canada has one of the lowest population densities in the world. To fully exploit its natural resources, Canada needs to actively attract skilled talent and a workforce to address the problem.

Youcheng has something to say:

The US tariff increase may give Canada the opportunity to relax immigration conditions, because Canada needs to actively attract technical talents and young people to enrich its own country. It is speculated that the Canadian government will still open up barriers to student visas or technical talent immigration in the near future.