As Trump tariffs sink in, Canadian firms pivot from US to new markets
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Update time : 2025-05-07 20:27:57
A manufacturer of capsules and tablets for the pharmaceuticals industry is scouting Asia for new partners. A steel component maker, with a client base in the United States stretching back 35 years, is telling customers to expect to pay higher prices.
Another company, that produces mascot costumes for sporting or school events, is lowering its prices so as not to lose American customers. President Donald Trump’s tariff war - and his repeated threats to annex Canada - are upending decades of close trade ties between the two North American neighbors, and prompting many small-scale Canadian manufacturing firms to revise their long-term business strategies. Prime Minister Mark Carney, who led the Liberal party to victory last month by campaigning to stand up to Trump, is scheduled to meet the US President at the White House on Tuesday.
He has repeatedly said the old relationship with the United States is over. Even if the US forges a new trade agreement with Canada, Trump’s erratic policy and the uncertainty of doing business with the US will persist, according to interviews with more than a dozen companies, advisors, trade lawyers and associations.
