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Canadian Small Businesses to Bear Brunt of New U.S. Tariffs

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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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Faraday Future expands robotics push in Middle East, set to launch new products

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Faraday Future expands robotics push in Middle East, set to launch new products

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Google Maps switches to ‘Lake America’ after Trump orders Lake Ontario rename

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Google Maps switches to ‘Lake America’ after Trump orders Lake Ontario rename

Google Maps has begun displaying “Lake America” in place of Lake Ontario for users in the United States after President Donald Trump ordered the body of water renamed.

Google said the change began rolling out Saturday after the U.S. Geographic Names Information System (GNIS) formally updated the lake’s name from Lake Ontario to Lake America.

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“Since we update Google Maps to reflect name changes in official government sources, which is GNIS for the U.S., people using Maps in the U.S. will see ‘Lake America,’ those in Canada will continue to see ‘Lake Ontario,’ and those outside of the U.S. and Canada will see both names,” Google said.

CANADA PLANS TARIFF RETALIATION AFTER TRUMP WARNS ITS LEADERS TO ‘FALL IN LINE’

US President Donald Trump displays a signed executive order

US President Donald Trump displays a signed executive order in the Oval Office of the White House in Washington, DC, on Aug. 27, 2026. (Al Drago/The Washington Post/Bloomberg via Getty Images)

“These updates follow our long-standing policy for bodies of water with names that vary from country to country, and are starting to roll out now,” the company added.

White House communications director Steven Cheung highlighted the change on X on Sunday.

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“It’s official! LAKE AMERICA on Google Maps,” Cheung wrote.

TRUMP SAYS 50% TARIFFS ON CANADIAN VEHICLE, STEEL IMPORTS TO HIT JAN 1

"Making the Great Lakes Even Greater" signage

“Making the Great Lakes Even Greater” signage during an executive order signing in the Oval Office of the White House in Washington, DC, on Aug. 27, 2026.  (Al Drago/The Washington Post/Bloomberg via Getty Images)

The update comes days after Trump signed an executive order Thursday directing the Interior Department to rename Lake Ontario to Lake America in the United States.

“The Lake will continue to play a pivotal role in shaping America’s future and the global economy,” Trump wrote.

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“In recognition of this flourishing economic resource and its critical importance to our Nation’s economy and its people, I am directing that the Lake officially be renamed as Lake America.”

TRUMP PAUSES 50% TARIFFS ON CANADA HOURS BEFORE DEADLINE AFTER ANNOUNCING POTENTIAL DEAL

A Canadian flag flies

A Canadian flag flies along the Lake America waterfront in Toronto on Aug. 27, 2026. (Cole Burston / AFP via Getty Images)

The president’s decision also comes amid escalating trade tensions between Washington and Ottawa.

U.S. tariffs of 50% on about $20 billion worth of Canadian goods took effect Aug. 22 after trade talks collapsed. 

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Canada retaliated with tariffs on roughly $20 billion in U.S. imports that are set to take effect Sept. 8, according to Reuters.

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Google could not immediately be reached by FOX Business for comment.

Reuters contributed to this report.

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ONEOK to acquire Permian Basin assets for $4.43 billion

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ONEOK to acquire Permian Basin assets for $4.43 billion

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Trump blasts Canada over trade, accuses country of ‘ripping’ off US for decades

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Trump blasts Canada over trade, accuses country of ‘ripping’ off US for decades

President Donald Trump intensified his criticism of Canada on Sunday, accusing the country of “ripping” the U.S. off “for decades” as he defended his tariff policies and urged Canadian companies to move their operations south of the border.

In back-to-back Truth Social posts Sunday afternoon, Trump first credited tariffs with strengthening the U.S. auto industry and keeping American manufacturing plants open.

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“When I announced that I was running in the 2024 Presidential Election, right at the beginning, Ford was getting ready to close their Big Factory, in Detroit,” Trump wrote. 

Trump claimed the plant is now “running 24/7” and has become “one of the most profitable Car Plants in the World.”

CANADA PLANS TARIFF RETALIATION AFTER TRUMP WARNS ITS LEADERS TO ‘FALL IN LINE’

U.S. President Donald Trump

U.S. President Donald Trump is pictured during an event in the Rose Garden of the White House on Aug. 20, 2026, in Washington, DC. (Finn Gomez/Getty Images)

“There are many other examples, for both Ford, General Motors, and others. I’ve revived, and indeed saved, the Automobile Business in our America. That’s because of what I’ve done with TARIFFS,” he said.

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Trump then shifted his focus to Canada, describing the longtime U.S. ally as one of the country’s “worst” trade offenders.

“One of the Worst Abusers is Canada. I don’t want Canadian cars, I don’t want Canadian parts, I don’t want Canadian anything. They’ve been ripping us off for decades, and it’s going to stop,” Trump wrote.

TRUMP SAYS 50% TARIFFS ON CANADIAN VEHICLE, STEEL IMPORTS TO HIT JAN 1

Canadian Prime Minister Mark Carney

Canadian Prime Minister Mark Carney speaks at a press conference in Ottawa, Ontario, on Aug. 22, 2026, after trade talks with the US collapsed.  (Dave Chan / AFP via Getty Images)

“This should have happened long ago with other Presidents, just as stopping Iran should have happened long ago,” he continued. “They want to be treated like a State, but they aren’t one. I deal with the Leadership of many Countries, but I find Canada to be the worst. They are entitled no longer!”

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Minutes later, Trump followed up with another post urging Canadian companies that do business with the U.S. to relocate their operations south of the border.

“Let all Canadian Companies that are doing business with America move to the United States, immediately. Many of them are Companies that moved out years ago due to stupid U.S. Leadership. When you move back, there are no TARIFFS!” Trump wrote.

TRUMP FIRES BACK AT CANADA AFTER CARNEY SUSPENDS TRADE TALKS, ACCUSES US OF LAST-MINUTE ‘POWER PLAY’

ford logo

Trump claimed the Ford plant is now “running 24/7” and has become “one of the most profitable Car Plants in the World.” (David Paul Morris/Bloomberg via Getty Images)

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The president’s comments come amid escalating trade tensions between the two longtime allies.

U.S. tariffs of 50% on about $20 billion worth of Canadian goods took effect Aug. 22 after trade talks collapsed. Canada retaliated with tariffs on roughly $20 billion in U.S. imports that are set to take effect Sept. 8, according to Reuters.

The White House, Canadian Prime Minister Mark Carney’s office, Ford Motor Co. and General Motors did not immediately respond to requests from FOX Business for comment.

Reuters contributed to this report.

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S&P 500: Don't Believe Everything You Read About September

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S&P Global Dividend 100 Index: Where High Yield Meets Quality

S&P 500: Don't Believe Everything You Read About September

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Jobs, Broadcom, Dell, Hewlett, Planet Labs, and More to Watch This Week

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PCE, Walmart, Palo Alto, Analog Devices, Deere, and More to Watch This Week

Jobs, Broadcom, Dell, Hewlett, Planet Labs, and More to Watch This Week

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Miller Industries Isn’t Cheap Enough To Justify An Upgrade (NYSE:MLR)

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Miller Industries: Even With Growth On The Horizon, Conditions Justify Caution (NYSE:MLR)

This article was written by

Daniel is an avid and active professional investor.
He runs Crude Value Insights, a value-oriented newsletter aimed at analyzing the cash flows and assessing the value of companies in the oil and gas space. His primary focus is on finding businesses that are trading at a significant discount to their intrinsic value by employing a combination of Benjamin Graham’s investment philosophy and a contrarian approach to the market and the securities therein. Learn more.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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UFOX: Expensive, High Beta Portfolio Of Space And Connective Tech Names Is A Hold

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UFOX: Expensive, High Beta Portfolio Of Space And Connective Tech Names Is A Hold

UFOX: Expensive, High Beta Portfolio Of Space And Connective Tech Names Is A Hold

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Meta Stock: AI Strategy Is Misunderstood By The Market (NASDAQ:META)

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Meta Platforms: The Long Game (META)

This article was written by

I am a full-time equity analyst and the co-founder of Mina Vista Capital Management, a hedge fund that my business partner, William Hazen, and I started. I look for long-term investment opportunities with a focus on fundamentals. I’ve done extensive research on industries such as SaaS, technology, semiconductors, luxury, and like to analyze new theses that emerge. I find discussions with other analysts, especially when we hold opposing views, very constructive to both of our theses. If you have a different view on any of the companies I cover, send me a message on X and my business partner and I will be happy to discuss.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of META either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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The Jobs Report May Force A September Rate Hike And Send Rates Soaring

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Palantir: AI SaaS Winner Still Expensive - Bull Trap Plays Out

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Michael Kramer is the founder of Mott Capital Management – and is a long-only investor who focuses on macro themes and studies trends and options activities to identify and assess entry and exit points for investments in his long-term focused thematic growth strategy. He is a former buy-side trader, analyst, and portfolio manager with 30 years of experience tracking market technicals, fundamentals, and options.Michael Kramer leads the investing group Reading the Markets, where he helps a devoted following of members to better understand what is driving trading and where the market is likely heading, both the short and long-term. Features of the investing group include: daily written commentary and videos analyzing the driving factors behind price action; general macro trend education to help members make well-informed decisions based on market conditions, interest rates, currency movements and how they all interact; chat for questions and community dialogue; and regular Zoom videos sessions to discuss current ideas and answer questions. The level of access RTM subscribers and the expertise of the source are unprecedented given that the subscription price is a fraction of similar technical coaching and mentoring services. Learn more.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

This report contains independent commentary to be used for informational and educational purposes only. Michael Kramer is a member and investment adviser representative with Mott Capital Management. Mr. Kramer is not affiliated with this company and does not serve on the board of any related company that issued this stock. All opinions and analyses presented by Michael Kramer in this analysis or market report are solely Michael Kramer’s views. Readers should not treat any opinion, viewpoint, or prediction expressed by Michael Kramer as a specific solicitation or recommendation to buy or sell a particular security or follow a particular strategy. Michael Kramer’s analyses are based upon information and independent research that he considers reliable, but neither Michael Kramer nor Mott Capital Management guarantees its completeness or accuracy, and it should not be relied upon as such. Michael Kramer is not under any obligation to update or correct any information presented in his analyses. Mr. Kramer’s statements, guidance, and opinions are subject to change without notice. Past performance is not indicative of future results. Neither Michael Kramer nor Mott Capital Management guarantees any specific outcome or profit. You should be aware of the real risk of loss in following any strategy or investment commentary presented in this analysis. Strategies or investments discussed may fluctuate in price or value. Investments or strategies mentioned in this analysis may not be suitable for you. This material does not consider your particular investment objectives, financial situation, or needs and is not intended as a recommendation appropriate for you. You must make an independent decision regarding investments or strategies in this analysis. Upon request, the advisor will provide a list of all recommendations made during the past twelve months. Before acting on information in this analysis, you should consider whether it is suitable for your circumstances and strongly consider seeking advice from your own financial or investment adviser to determine the suitability of any investment.

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Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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