As the March 4 deadline approaches, Canadian businesses are gearing up for the potential impact of a 25% U.S. tariff on Canadian goods. This move from the United States is expected to trigger retaliatory tariffs from Canada on U.S. products, setting the stage for a trade conflict that could affect numerous industries on both sides of the border.
The looming tariffs pose significant challenges for sectors ranging from agriculture and automotive to technology and manufacturing. Businesses are preparing contingency plans to mitigate the financial strain and explore alternative markets to sustain their operations.
Dan Williams reports from an RV show outside Toronto, highlighting the concerns of local entrepreneurs who fear reduced competitiveness and increased costs. The ripple effects of these tariffs could lead to job losses and hinder economic growth, emphasizing the urgency for effective policy responses and diplomatic negotiations to avert a prolonged trade dispute.
