Einstein reportedly said, "In the middle of difficulty lies opportunity." In that vein, new U.S. tariffs have energized Canada to explore opportunities to better insulate the economy from future external shocks. Any combination of increased federal and provincial fiscal support, lower taxes, relaxation of regulations, reduced bureaucracy, diversification of foreign trade partners, increased leverage of natural resources, and fewer barriers to cross-province trade is a setup for a healthier macro foundation characterized by higher and more durable long-term growth. But that takes time. In the interim, despite continued central bank support and until a more favorable tariff structure is negotiated, the base case of BMO economists calls for a macro contraction during the middle quarters of the year. Unsurprisingly, weak domestic and cross-border freight activity will also extend an already challenging environment for trucking.