{
  "id": 2561954,
  "title": "Businesses fear closure with no Canada-U.S. trade deal as industry reacts",
  "url": "https://urgent.news/2026/08/22/businesses-fear-closure-with-no-canada-u-s-trade-deal-as-industry-2561954",
  "topic": "business",
  "section": "Business",
  "published": "2026-08-22T04:43:29.000Z",
  "source": {
    "name": "CityNews",
    "slug": "citynews",
    "url": "https://toronto.citynews.ca/2026/08/22/businesses-fear-closure-with-no-canada-u-s-trade-deal-as-industry-reacts/"
  },
  "original_language": "en",
  "account": "OTTAWA — As the collapse of Canada and the United States' trade talks unfolded, businesses across the nation swiftly reacted to the imposition of 50 per cent tariffs on $28 billion worth of Canadian goods. Prime Minister Mark Carney's pledge of dollar-for-dollar retaliatory tariffs further fueled concerns.\n\nCandace Laing, president and CEO of the Canadian Chamber of Commerce, declared the breakdown a \"body blow to North American competitiveness.\" She emphasized that the non-absorbable tariff is untenable for businesses, particularly for small exporters operating on tight margins.\n\nLaing, a member of Carney's Canada-U.S. relations advisory committee, warned that Americans will face higher costs, while Canadians will see customers, investment, and small businesses disappear.\n\nThe United States imposed the tariffs on a range of Canadian exports on Saturday, following the failure to reach a new deal before an extended deadline set by President Donald Trump. Prime Minister Carney suspended negotiations and directed Canadian negotiators to return to Ottawa, announcing that Canada will retaliate with matching tariffs.\n\nUnifor president Lana Payne, also a member of Carney's advisory committee, stated that Canadian negotiators made the right decision in walking away from the deal. She criticized the U.S. for its relentless list of concessions, threats, and economic extortion, which aim to break Canadian businesses and workers.\n\nDan Kelly, president and CEO of the Canadian Federation of Independent Business, expressed deep concern over the new American tariff, noting that 40 per cent of small exporters sell items on the list facing 50 per cent tariffs. Many CFIB members have reported that the tariff will end their U.S. sales and potentially kill their businesses.\n\nBea Bruske, president of the Canadian Labour Congress, echoed the sentiment that walking away from a bad deal is the right choice for Canada. She acknowledged that the road ahead would be challenging but stressed the need to use leverage to force Trump to back down and focus on protecting workers and communities impacted by the trade war.",
  "summary": "OTTAWA — The collapse of trade talks between Canada and the United States, the imposition of 50 per cent tariffs on $28 billion worth of Canadian goods and Prime Minister Mark Carney pledging dollar-for-dollar retaliatory tariffs triggered swift reaction from the nation's business community.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Winnipeg Free Press",
        "title": "Businesses fear closure with no Canada-U.S. trade deal as industry reacts",
        "url": "https://urgent.news/2026/08/22/businesses-fear-closure-with-no-canada-u-s-trade-deal-as-industry",
        "published": "2026-08-22T04:43:29.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}