Eric Lascelles, chief economist at RBC Global Asset Management, noted in a Wealth Professional article that while a recession isn’t imminent, uncertainty is rising due to factors like the U.S.-Canada trade war and global interest-rate dynamics. Additionally, some U.S. companies are stockpiling inventory ahead of expected tariffs, leading to a temporary import surge that could make GDP growth appear weaker than it is. With the current administration more willing to accept short-term economic strain to achieve policy goals, the risk of recession has increased to 25 percent.
