US EditionFacing tariffs and uncertainty, Canadian firms look past US markets
- Canadian firms facing tariff-related uncertainty in 2025 are shifting away from reliance on U.S. markets toward alternative regions like Asia and Europe.
- This shift follows U.S. President Trump's imposition of 25% tariffs on steel, aluminum, and non-compliant auto parts beginning in March and April 2025, disrupting longstanding trade ties.
- Affected companies include pharmaceutical manufacturers scouting Asia, steel component makers passing higher costs to U.S. clients, and Canadian distributors focusing more on domestic markets.
- Industry experts note that tariffs and erratic U.S. policies cause firms to seek stability elsewhere, with one consultant stating owners, banks and funds "want stability" and are acting cautiously.
- The evolving trade environment suggests long-term restructuring for Canadian exporters, who may face continued challenges despite possible new trade agreements with the U.S.
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Uncertainty in the foreign trade sector has inhibited the potential growth of the economy, but once there is more clarity about its course, this activity will be energized and banking will also continue to contribute to the development of the country, said Mauricio Naranjo, CEO of Financial Group Monex.Since Donald Trump's arrival at the US presidency on January 20, global trade policy has faced tariffs and discourses that promote protectionism.…
Facing tariffs and uncertainty, Canadian firms look past US markets
President Donald Trump's tariff war - and his repeated threats to annex Canada - are upending decades of close trade ties between the two North American neighbors, and prompting many small-scale Canadian manufacturing firms to revise their long-term business strategies.
Tough Decisions and Tariff Uncertainty
If you’re feeling the pressure from ongoing trade restrictions and tariffs, you’re not alone. Many Canadian employers especially those heavily reliant on U.S. trade are facing a lot of uncertainty right now. While the full impact of these tariffs might not be immediate, the unpredictability is already having an impact. You may find yourself considering your workforce needs and planning for potential challenges. A proactive approach is always bes…
As Trump Tariffs Sink in, Canadian Companies Pivot From US to New Markets
A manufacturer of capsules and tablets for the pharmaceuticals industry is scouting Asia for new partners. A steel component maker, with a client base in the United States stretching back 35 years, is telling customers to expect to pay higher prices. Another company, that produces mascot costumes for sporting or school events, is lowering its prices so as not to lose American customers.
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