Amid the escalating U.S. trade tensions and sweeping tariffs under U.S. President Donald Trump, Canadian businesses are re-evaluating their reliance on the American market.
The U.S. decision to impose a 25 per cent tariff on all Canadian imports has disrupted the longstanding trade relationship between the two countries. In retaliation, Canada announced $155 billion in counter-tariffs, affecting a wide range of American goods, including consumer products and raw materials.
The International Monetary Fund (IMF) recently lowered global growth forecasts, citing the adverse effects of U.S. tariffs, which have reached century-high levels. Canada’s economy is among those impacted, with growth projections adjusted downward due to the ongoing trade disputes.
The trade conflict has prompted Canadian businesses to reassess their reliance on the U.S. market.
A survey conducted by the Bank of Canada revealed the threat of tariffs is weighing heavily on Canadian businesses, with many expressing concerns about the viability of their U.S. operations. In light of these developments, there is a growing move to strengthen domestic trade by provincial leaders, with both the federal and provincial governments trying reduce internal trade barriers.
As Canadian businesses navigate this shifting economic landscape, CTVNews.ca wants to hear from you.
What was your previous strategy regarding interprovincial sales? Did any factors hold you back from focusing more on the Canadian market?
Are you increasing your marketing efforts to attract Canadian customers? Have you observed a financial impact from this domestic focus? Do you anticipate maintaining this emphasis on domestic sales beyond the current U.S. administration?
Share your story by emailing us at dotcom@bellmedia.ca with your name, general location and phone number in case we want to follow up. Your comments may be used in a CTVNews.ca story.
