'Half my business will be gone' - Firms in Canada and US fear trade war
Business owners in both countries are navigating uncertainty and worry as the tit-for-tat import taxes ratchet up.
Canadian and American businesses are bracing for the impact of escalating trade tensions. CindyLouWho2, a stone-and-glass jewellery company based in Calgary, relies heavily on American buyers and fears that tariffs will wipe out half of its US sales. Prime Minister Mark Carney pledged levies on US steel, dairy, appliances and electronics effective September 8th, while US President Donald Trump's tariffs have already impacted Canadian wine, dairy, cement, clothing and hockey equipment.
Lind Furniture, a Canadian company selling leather furniture to big store clients, has seen a drop in sales since the tariffs were imposed. Canadian exports to the US make up 70% of its total exports, making it extremely vulnerable to further tax increases. American businesses, particularly small ones, are also feeling the pinch, with some unable to adjust prices due to customer price sensitivity.
The trade war has also affected Canadian customers, who are hesitant to shop at businesses along the US border due to Trump's anti-Canadian rhetoric.
Written by urgent.news from BBC World's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
