The Globe and Mail reports in its Friday edition that Donald Trump's threat to impose tariffs on Canadian imports poses huge risk to the country's economy. The Globe's Mark Rendell writes, however, that such threats also provide an opportunity to address structural problems that hold back economic growth, and to double-down on sectors in which Canadian companies can thrive in an increasingly protectionist world. That is according to the chief economists at five of Canada's largest banks, who delivered their 2025 outlooks at an Economic Club of Canada event in Toronto on Thursday. Financial markets are not yet betting on full 25-per-cent U.S. tariffs on Canada. The Canadian dollar has depreciated against the U.S. dollar in recent months, falling below 70 U.S. cents for the first time in four years. It would likely fall much further if Mr. Trump imposes the full 25-per-cent tariff, said Avery Shenfeld, chief economist at CIBC. A weaker loonie would help offset the impact of the tariff on exports by making Canadian goods more attractive to U.S. buyers. That is not much of a silver lining. "That does help push our exports, but let's not forget, it makes us poorer. When we want to import things, we can afford less," he said.