Champagne says world economy showing signs of resilience in face of U.S. trade war

By Canadian Press on October 15, 2025.

WASHINGTON — Finance Minister François-Philippe Champagne says a new International Monetary Fund report shows that while the global economy is showing resilience in the face of U.S. tariffs, trade uncertainty is holding it back.

Champagne is chairing the fall meeting of the G7 finance ministers in Washington this week and attending the annual gathering of the International Monetary Fund and World Bank Group.

The IMF said Tuesday that while growth has been sluggish, it wasn’t as poor as previously predicted.

Champagne says the IMF report is “encouraging” governments to exercise fiscal discipline while making capital investments in economic growth.

Canada has been hit hard by many of Trump’s tariffs but the IMF predicts it will be the second-fastest-growing of the G7 economies next year.

The Liberals under Prime Minister Mark Carney — who campaigned in the spring election on his fiscal skills and ability to navigate the Trump administration — are set to table their next budget on Nov. 4.

This report by The Canadian Press was first published Oct. 15, 2025.

Kelly Geraldine Malone, The Canadian Press