The clock is ticking with a week to go before U.S. President Donald Trump’s new round of tariffs hits Canadian exports and a survey of small Canadian exporters is warning of dire consequences if the sweeping 50 per cent levies take effect.
While Canada has been dealing with Trump’s tariffs for more than a year, including with sectoral tariffs on steel, aluminum and automobiles, the vast majority of Canadian goods traded under the Canada-U.S.-Mexico Trade Agreement (CUSMA) have been exempt from Trump’s tariffs.
This could change on Aug. 19.
Around two in five Canadian exporters said they currently export a product to the U.S. that would fall under the scope of the new incoming tariffs, a survey from the Canadian Federation of Independent Business said on Wednesday.
Of these, more than three-quarters (77 per cent) said they expect to lose revenue if the tariffs go ahead and more than one in three (35 per cent) said they stand to lose at least half or more of their revenues.
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“Most of these businesses have been operating under the long-standing assumption that CUSMA-compliant goods would remain tariff free,” said CFIB president Dan Kelly.
“The prospect of losing sales, slashing prices, or having to pivot to new markets altogether, is generating a lot of small exporter anxiety in the lead-up to August 19,” he added.
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Businesses have started battening down the hatches ahead of the next round of tariffs, a survey by Canadian business financing solutions firm Merchant Growth has found.
More than six in 10 small businesses surveyed told Merchant Growth that they have at least some reliance on the U.S., while 13 per cent said the relationship with the U.S. was “core” to their business.
More than half (55 per cent) have cut spending, while a quarter (25 per cent) have delayed hiring. Another quarter said they’ve raised prices for consumers.
Canadian officials are working to secure a deal with the U.S. before next week. Canada-U.S. Trade Minister Dominic LeBlanc is in Washington along with Canada’s chief trade negotiator Janice Charette.
LeBlanc and Charette met with U.S. Trade Representative Jamieson Greer on Tuesday.
“Discussions remain ongoing, and we continue to engage at the negotiation table to firmly advance and defend Canadian interests,” LeBlanc said in a statement.
Meanwhile Carney is in Italy vacation. False confidence and treating issue in a ham fisted approach isn’t a good thing.
Imagine having so much TDS that you simply refuse to make a deal.
@Educated Commenter.
What about WW2 with Japan. Oops I guess you forgot about that war. lol
Guess this is why we’re hearing that Carney and making concessions in an effort to bypass this Aug 19th disaster. Maybe, just maybe, they could have treated this with more urgency 12 months ago…
Is this the Whole 18% of Canadians that approve of PP in this comment section. Bahahaha.
The best thing to happen to the Liberal party was PP showing up and continuing to stay.
America has never won a war in the history of that country.
They will lose this one too.
We are f *ucked. Carney needs to be shot.
I can’t wait for the new Trump tariffs to be put in place next week! Elbows Up USA!
The elbozos wanted to fight so have at it. Probably should have talked nice like western premiers and worked out a deal but no Canada thinks it is Goliath and we know how that ended.
Liberal policy already did that lol.
Then move the operations to the U.S. It’s the Carney way.
I see. I understand. Yeah. Alright. Aldjcnzkmsndnx4628.*?”
The U.S. opportunity here is to bring Canada to their knees.
Then the states we’ll be in a far better position to dictate terms.
All the Carney’s MOU ain’t doing shiit, when he flew to Italy did he get off and hide in a pastamania catering truck to avoid the media lol
The Carney /Liberal excuses will come out soon. But, but Harper, but but Iran, but but PP, but but Putin. Meanwhile Carney is vacationing in Italy. That is PPs fault also.
Canada wanted Elbows Up and got it.
All good people, the tariffs won’t effect Canadian news broadcasters since the Liberals foot the bill. We won’t be seeing any criticisms of the Liberal government from mainstream news any time soon. This is all Poilievre’s fault somehow anyways.
I started this online work a few months ago.
At first, I was confused about where to apply.
Then I noticed the website name on the profile photo.
I copied it and opened it in a new tab….
Hey global, your comment section is fucked again. Anytime I spend longer than 30 seconds on a comment your page auto refreshes on my and I loose everything. Fix it already will you?
Carney better get going on more trade deals with others after he decided to go Elbows Up and thumb his nose at Trump and the MAGA Movement.
Canada wanted elbows up and now they got it. Now USA elbows back harder. Elbows Up USA
🤡🤡🤡
Canada is burning. Tariffs coming in next week that could destroy companies and Carney is out of the country again now in Italy. Canada doesn’t have any leaders federal or provincial Eby has only been heard from once about BC burning and that was to declare a state of emergency and said he has spoken to Carney but nothing about what they are going to do about Trump or the fires. It’s no wonder the world sees Canada as weak.
Carney promised he knew Trump, could manage him, and was the only guy who could get a deal for Canada. Carney made these statements willingly and in the public domain. He needs to fall on his sword as he hasn’t delivered.
Canada getting the beating it needs, deserves and what the elbozos voted for. Enjoy
Trump in Tuscany trying to hide from Canadians.
Can’t wait for the new Trump tariffs to kick in. Elbows Up USAl!
Carney has totally dropped the ball on this. He promised a deal by July 31, 2025. Now he is vacationing in Italy at this most important time.
Amazing job Carney is doing with Trump .He is definitely the man for the job.This Liberal Government has done incredible work for Canadians. Affordability has never been better.