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<data>
<terms url="https://www.bankofcanada.ca/terms/"></terms>
<groupDetail>
    <label>Chart 3: Negative effects of a more severe trade war are felt across all regions</label>
    <description><![CDATA[Decomposition of changes to average annual potential growth in 2025–27 relative to April 2024, percent change

Note: “Rest of the world” is a grouping of other economies not included in the first five regions. It is composed of oil-exporting EMEs (such as Russia, Nigeria and Saudi Arabia) and other advanced economies (such as Canada, the United Kingdom and Australia)

Source: Bank of Canada calculations and estimates]]></description>
    <link>https://www.bankofcanada.ca/?p=246055</link>
</groupDetail>
<seriesDetail>
<series id="SAN_BOUL20250514_C3_S1">
<label>Artificial intelligence</label>
<description></description>
<dimension key="k" name="Category"/>
</series>
<series id="SAN_BOUL20250514_C3_S2">
<label>Region-specific</label>
<description></description>
<dimension key="k" name="Category"/>
</series>
<series id="SAN_BOUL20250514_C3_S3">
<label>Tariff and uncertainty impact in Scenario 1</label>
<description></description>
<dimension key="k" name="Category"/>
</series>
<series id="SAN_BOUL20250514_C3_S4">
<label>Impact from additional tariffs in Scenario 2</label>
<description></description>
<dimension key="k" name="Category"/>
</series>
<series id="SAN_BOUL20250514_C3_S5">
<label>Scenario 1</label>
<description></description>
<dimension key="k" name="Category"/>
</series>
<series id="SAN_BOUL20250514_C3_S6">
<label>Scenario 2</label>
<description></description>
<dimension key="k" name="Category"/>
</series>
</seriesDetail>
<observations>
<o k="World"><v s="SAN_BOUL20250514_C3_S1">0.05</v><v s="SAN_BOUL20250514_C3_S2">0.02</v><v s="SAN_BOUL20250514_C3_S3">-0.02</v><v s="SAN_BOUL20250514_C3_S4">-0.12</v><v s="SAN_BOUL20250514_C3_S5">0.00</v><v s="SAN_BOUL20250514_C3_S6">-0.10</v></o>
<o k="United States"><v s="SAN_BOUL20250514_C3_S1">0.15</v><v s="SAN_BOUL20250514_C3_S2">0.06</v><v s="SAN_BOUL20250514_C3_S3">-0.02</v><v s="SAN_BOUL20250514_C3_S4">-0.33</v><v s="SAN_BOUL20250514_C3_S5">0.20</v><v s="SAN_BOUL20250514_C3_S6">-0.10</v></o>
<o k="Euro area"><v s="SAN_BOUL20250514_C3_S1">0.03</v><v s="SAN_BOUL20250514_C3_S2">-0.10</v><v s="SAN_BOUL20250514_C3_S3">-0.01</v><v s="SAN_BOUL20250514_C3_S4">-0.09</v><v s="SAN_BOUL20250514_C3_S5">-0.10</v><v s="SAN_BOUL20250514_C3_S6">-0.20</v></o>
<o k="Japan"><v s="SAN_BOUL20250514_C3_S1">0.03</v><v s="SAN_BOUL20250514_C3_S2">-0.06</v><v s="SAN_BOUL20250514_C3_S3">-0.01</v><v s="SAN_BOUL20250514_C3_S4">-0.07</v><v s="SAN_BOUL20250514_C3_S5">0.00</v><v s="SAN_BOUL20250514_C3_S6">-0.10</v></o>
<o k="China"><v s="SAN_BOUL20250514_C3_S1">0.06</v><v s="SAN_BOUL20250514_C3_S2">0.27</v><v s="SAN_BOUL20250514_C3_S3">-0.03</v><v s="SAN_BOUL20250514_C3_S4">-0.03</v><v s="SAN_BOUL20250514_C3_S5">0.30</v><v s="SAN_BOUL20250514_C3_S6">0.30</v></o>
<o k="Emerging-market economies"><v s="SAN_BOUL20250514_C3_S1">0.00</v><v s="SAN_BOUL20250514_C3_S2">-0.10</v><v s="SAN_BOUL20250514_C3_S3">-0.03</v><v s="SAN_BOUL20250514_C3_S4">-0.11</v><v s="SAN_BOUL20250514_C3_S5">-0.10</v><v s="SAN_BOUL20250514_C3_S6">-0.20</v></o>
<o k="Rest of the world"><v s="SAN_BOUL20250514_C3_S1">0.00</v><v s="SAN_BOUL20250514_C3_S2">0.10</v><v s="SAN_BOUL20250514_C3_S3">-0.04</v><v s="SAN_BOUL20250514_C3_S4">-0.11</v><v s="SAN_BOUL20250514_C3_S5">0.10</v><v s="SAN_BOUL20250514_C3_S6">0.00</v></o>
</observations>
</data>