Bank of Canada's Governor Tiff Macklem said on Thursday that a policy shift in the U.S. was causing uncertainty and President Donald Trump's tariff threats were already impacting business and households.

Despite winning a month-long reprieve from potentially devastating U.S. tariffs, there is a deep sense of anxiety hanging over some of the most senior Canadian government officials who manage the relationship with President Donald Trump.

Some of the purported concessions that led to a 30-day pause on the tariffs were things Canada and Mexico had already done before Trump’s threat, but it’s complicated.