Chart 1: A more severe trade war reduces global potential output growth https://www.bankofcanada.ca/?p=246055 Euro area United States China Emerging-market economies Other regions Difference in potential output growth between the two scenarios Potential output: Scenario 1 Potential output: Scenario 2 Potential output growth (April 2024 Monetary Policy Report) 0.190.291.091.260.400.003.203.203.20 0.190.311.071.320.400.003.303.303.30 0.160.331.051.330.400.003.303.303.20 0.100.301.000.570.230.002.202.202.10 0.110.310.981.010.280.002.702.702.60 0.130.360.921.100.220.002.702.702.70 0.130.400.891.230.340.003.003.002.90 0.130.400.861.300.380.003.103.103.00 0.120.340.821.270.360.043.003.003.00 0.110.260.781.280.340.203.002.802.90 0.110.280.751.300.340.132.902.802.90 0.110.320.721.340.350.022.902.90