The business landscape of Canada is seeing a huge shift moving south of the border. Trump recently implemented tariffs on Canada, Mexico and China. These were done to force action on several national concerns including immigration, trafficking and trade imbalances. Canada and Mexico have 25% tariffs. Canada has a 10% tariff on their energy exports, China imports are also 10%.
Trump moving business
A survey done by KPMG shows almost half of Canadian businesses or 48% are planning on moving production or investments to the United States so they can compete. Over half or 60% are considering acquisitions in the US.
Smart Canadian businessmen had taken proactive measures before Trump took office to the tune of 65%. Goods were being shipped to the US ahead of the predicted tariffs to avoid additional shipping costs.
KPMG official spoke on the Trump tariffs
Lucy Iacovelli is the Canadian Managing Partner of Tax and Legal at KPMG. It’s coming, do what strategies you need to do.
“The new U.S. administration’s economic and trade policies are having huge ripple effects in Canada and around the world. There are important steps that Canadian businesses can take to prepare for trade disruption and higher costs and build resiliency. No matter when or if U.S. tariffs or tax cuts take effect, now is the time to be proactive and understand your exposure and develop mitigation strategies.”
Trudeau has made Canadian business less profitable so they’re going where they can survive. The vast majority of Canadian business leaders, or a whopping 86%, see the tariffs as a “wake-up call” to boost productivity.
Canadians like Trump for national security
They seem to align with him on that. An enormous 89% of Canadian business leaders support border security for the nation. Military spending is also very heavily backed to the tune of 85%. Arctic and NORAD defense were among the top concerns.
Trump spoke on Truth Social. “We need to protect Americans, and it is my duty as President to ensure the safety of all. I made a promise on my Campaign to stop the flood of illegal aliens and drugs from pouring across our Borders, and Americans overwhelmingly voted in favor of it.”