Summary
Canadian businesses, like Taurus Craco, are facing challenges due to the shifting tariffs imposed by the United States, which makes it difficult to plan for the future. The ongoing trade conflict has led to economic uncertainty, impacting Canada’s economy as it heavily relies on trade with the US.
Key Facts
- Taurus Craco, a business in the Toronto area, imports machinery and sells it in North America, mainly the US.
- Shifting US tariffs have caused uncertainty and financial burdens for small businesses like Taurus Craco.
- Taurus Craco had to pay C$35,000 extra when a shipment to the US faced unexpected tariffs.
- The trade conflict includes a series of tariffs particularly on metals and autos between the US and Canada.
- Prime Minister Mark Carney labeled the US tariffs as "unjust" and stated that the old US-Canada trade relationship is over.
- In April, Carney visited the US to discuss a new trade and security deal.
- President Trump recently stopped trade talks with Canada over a digital services tax.
- Canada relies heavily on trade with the US, sending 75% of its exports there.
- The Canadian economy slowed, growing only 0.8% in early 2025 due to the trade dispute.
