Canadian Small Businesses & Tariffs

Canadian small businesses face challenges due to potential U.S. tariffs, despite a temporary reprieve. Companies are actively diversifying their supply chains and exploring new markets to mitigate the impact of increased costs. This includes seeking alternative suppliers both domestically and internationally, and some are even preparing to raise prices for consumers. The uncertainty surrounding the tariffs is forcing businesses to re-evaluate their strategies and prioritize resilience. The current situation underscores the vulnerability of small businesses operating in a complex and volatile international trade environment. Ultimately, business owners are adapting by focusing on what they can control and developing contingency plans.