# Assumptions for the outlook scenarios - Bank of Canada

> The Bank of Canada's April 2025 Monetary Policy Report sets out two illustrative scenarios for US trade policy. Scenario 1 assumes most tariffs are negotiated away, while it keeps Chinese 100% tariffs on some Canadian agricultural products. The report says the path of US trade policy remains unclear.

- Date: 2025-04-16 · published 2025-04-16T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/25076-assumptions-for-the-outlook-scenarios-bank-of-canada
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

Trade policy uncertainty shapes the Canadian dollar and the macro outlook that influence export demand for grains and oilseeds. Continued Chinese tariffs on Canadian agricultural goods keep canola meal and oil flows under pressure.

## Read by commodity

- USDCAD: neutral
- CANMEAL: bearish ▼

## Sources

- bankofcanada.ca: https://www.bankofcanada.ca/publications/mpr/mpr-2025-04-16/section-7/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.