Small businesses face cancelled and delayed orders with trade uncertainty: CFIB

Hey there, time traveller!
This article was published 13/02/2025 (329 days ago), so information in it may no longer be current.

OTTAWA – A report by the Canadian Federation of Independent Business says 18 per cent of small- and medium-sized businesses are seeing cancelled or paused orders due to the ongoing trade uncertainty with the United States.

The business group says the proportion increases to 34 per cent among exporters, based on the survey of its members.

Canada faces the prospect of devastating tariffs on goods headed to the United States starting as early as next month.

Canadian politicians have been lobbying U.S. President Donald Trump to hold off imposing the tariffs by pointing out they would raise prices and hurt those in both Canada and the United States.

CFIB chief economist Simon Gaudreault says the uncertainty around tariffs is almost as damaging as tariffs themselves.

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Gaudreault added that if Canada hits back against the U.S. with retaliatory tariffs, it must make sure any support programs include the needs of small businesses.

This report by The Canadian Press was first published Feb. 13, 2025.