The National Post reports in its Tuesday, Aug. 5, edition that "Some resilience" -- those were the two words Bank of Canada Governor Tiff Macklem used last week to describe how the Canadian economy is holding up under the weight of U.S. tariffs. A Canadian Press dispatch to the Post reports that recently, President Donald Trump imposed a 35-per-cent tariff on Canadian goods, adding to existing duties on steel, aluminum and automobiles. Economists note that while Canada's economy is showing signs of strain, it is not collapsing. TD economist Marc Ercolao expressed surprise at the economy's stability, noting that forecasts had predicted a much weaker performance. "We are avoiding the worst-case scenario." On Thursday, Statistics Canada revealed insights into the economy's performance for the second quarter, coinciding with the implementation of various tariffs. Statscan noted small contractions in real GDP in April and May, but indicated a rebound in June. If these early estimates hold true, the overall growth for the quarter would remain flat. Mr. Ercolao says, "What we can say over the last six months or so is that economic activity is somewhat flatlining." The services sector is doing relatively well.