Business
Canadian Small Businesses to Bear Brunt of New U.S. Tariffs
TORONTO—Canadian honey producers are feeling the sting from President Trump’s new tariffs. So are exporters of artwork, wool, cosmetics, flowers and hundreds of other goods that depend on the U.S. market.
The Canadian economy as a whole is projected to withstand the new tariffs of 50% on $20 billion worth of Canadian goods, or about 5% of Canada’s U.S.-bound exports. But many small and medium-size Canadian business owners are expected to bear the brunt of the pain, and some fear they could be put out of business without a resolution to the trade spat.
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