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The impacts of the imposing tariffs is "a lot like throwing sand into the gas tank of a finely-tuned Camaro," said Poloz who reminded the crowd that his arithmetic assumes no retaliatory measures from other countries.
"Like in any war, if you retaliate, you can easily double your losses."
Poloz's remarks opened an artificial intelligence symposium in Toronto organized by the Ivey Business School at Western University.
The symposium comes in the latter half of a year where trade tensions have dominated the worlds of economics and politics, weighing on business decisions, international relationships and consumer spending.
The trends have some people discussing the possibility of a recession and others predicting an irrevocable change in the world order.