Chamber details how tariffs would impact you
Canadians stand to lose $1,900 in annual income based on 25% tariffs.
That’s according to modelling from the Canadian Chamber of Commerce’s Business Data Lab.
They’ve launched a Canada-U.S. Trade Tracker to help businesses, politicians, and residents on both sides of the border better understand what’s at stake and then make the case to decision-makers to strengthen ties.
“Canada, and more specifically, Ontario, has a deep trade relationship with the United States. These tariffs will mean that businesses will pay more for the supplies they rely on, and consumers on both sides of the border will also feel the impact of further price increases,” says Donna Backer, President & CEO of the North Bay & District Chamber of Commerce. “We continue to encourage reducing the barriers to interprovincial trade to source Canadian supplies, resources, services, and products.”
Backer adds she’s hopeful the U.S. government will realize how valuable the partnership is and how countless businesses operate across all of North America.
“Tariffs are a lose-lose,” says Stephen Tapp, Chief Economist at the Canadian Chamber of Commerce. “They would raise business costs, reduce North America’s international competitiveness, and ultimately increase consumer prices at a time when Canadians and Americans are both struggling with significant affordability challenges.”
The Canadian Chamber says there’s $1.3 trillion in annual two-way trade between our country and the U.S., with 2.3 million Canadian jobs supported by exports to America.
You can find the Canada-U.S. Trade Tracker at the following link:
https://businessdatalab.ca/canada-u-s-trade-tracker/
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