Canadian Businesses Navigate Shifting Trade Waters

Canadian businesses are struggling with the constant changes in U. S. tariffs, which have made planning for the future nearly impossible. Wes Love, who runs Taurus Craco in the Toronto area, knows this all too well. His company imports machinery and sends it to the U. S. , but Trump's tariffs have caused major headaches. Just earlier this year, a shipment that crossed the border a few minutes after a deadline cost his business nearly C$35, 000. Even though Trump paused the tariff soon after, the damage was already done. Love had to pay up or risk losing access to the U. S. market. "It's like dealing with the mob, " he said, highlighting the frustration many business owners feel. The uncertainty isn't just affecting Love's company. Canada and the U. S. are locked in a trade war, with tariffs on metals and auto parts causing major disruptions. Trump argues these tariffs will boost American manufacturing, but for Canadian businesses, they've created chaos. Prime Minister Mark Carney has called the tariffs "unjust" and has been working on a new trade deal to stabilize the situation. However, talks hit a snag when Trump abruptly ended discussions over Canada's digital services tax. Carney has threatened retaliatory tariffs if the talks don't go anywhere, leaving businesses in limbo. The constant back-and-forth has taken a toll on Canada's economy, which relies heavily on trade with the U. S. In the first quarter of 2025, growth slowed to just 0. 8%, and it shrank by 0. 1% in April. The manufacturing sector has been hit the hardest, but the service sector isn't faring much better. Sam Gupta, CEO of ElevatIQ, a tech consultancy, says his business has seen a 50% drop in inquiries. "We are not even in the conversation, " he said, pointing out that service exporters have been left out of the relief measures. For businesses like Taurus Craco and ElevatIQ, the key to survival is stability. "Give us a set of rules and leave them alone, " Love said, comparing the situation to a game where the rules keep changing mid-play. Until a deal is reached, Canadian businesses will continue to navigate these turbulent trade waters, hoping for a stable future.