CFIB: 62% of small businesses ‘taking a hit’ from U.S. tariffs in March

What’s happening?

Nearly two-thirds (62 per cent) of small- and medium-sized businesses in Canada are already “taking a hit” due to the ongoing trade war with the U.S., according to the Canadian Federation of Independent Business (CFIB).

Data from the organization’s upcoming “Monthly Business Barometer” found most of the affected firms are in the manufacturing, wholesale, and transportation sectors.

“To say that small businesses are feeling worried is an understatement,” Simon Gaudreault, CFIB’s chief economist and vice-president of research, said in a release on the findings.

“No one likes to be strung along, small business least of all. The everchanging news developments and the constant on-again, off-again tariff threats are exhausting and just very bad for the economy, investment, and long-term business planning.”

The organization is urging the federal government to:

• Immediately recall Parliament
• Scrap the upcoming 19 per cent carbon tax increase and pass legislation to make sure carbon tax rebates are tax free.
• Pass proposed legislation to increase the lifetime capital gains exemption threshold to $1.25 million and ensure the promised Canadian Entrepreneurs’ Incentive stays in place.
• Ensure that any funds collected from retaliatory tariffs are returned to affected businesses as quickly as possible.

The CFIB also recommends offsetting high shipping costs for small businesses looking to reach a new export market or a non-U.S. supplier.

SEE ALSO
• Canada unveils $6-billion business aid program amid U.S. trade war
• Prepac cutting 170+ jobs in Delta, production going to U.S. amid tariffs
• Canada Metal Processing Group cuts workforce amid Trump tariff pressures

Canadians concerned about widespread layoffs

A new Leger poll found that 40 per cent of Canadians are concerned about losing their job in the next 12 months.

Why Samfiru Tumarkin LLP?

At Samfiru Tumarkin LLP, we’ve helped over 50,000 clients secure fair severance packages — recovering millions of dollars for non-unionized employees across Canada.

With extensive experience representing workers in roles at small businesses and large organizations across various industries, our team provides the expertise you need to navigate your termination effectively.

SEE ALSO
• Should I negotiate my own severance package in Ontario?
• What Albertans need to know about negotiating severance
• Negotiating severance in B.C.: What employees need to know

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Disclaimer: The materials provided in this article are for general informational purposes only and DO NOT constitute legal advice. For advice specific to your situation, please consult a legal representative at Samfiru Tumarkin LLP.