TD Bank signage is pictured in the financial district in Toronto in a file photo. The Canadian Press/Andrew Lahodynskyj
Canadians have been cutting back on spending due to “escalating” trade tensions with the United States and the uncertainty surrounding American tariffs, a new report from TD Economics suggests.
“The latest TD debit and credit card spending data suggest that Canadian consumers hit pause in the second quarter of 2025, reacting to escalating trade tensions,” the recently-released report says.
