Tariff Uncertainty Hits Canadian Exporters Ahead of August Deadline

The Canadian Federation of Independent Business (CFIB) has highlighted the potential impact of proposed US tariffs on Canadian exporters. The tariffs, set to take effect on August 19, could lead to significant revenue losses for affected businesses.

According to a survey conducted by the CFIB, 40% of small exporters to the US have products directly captured by the proposed 50% tariffs. Of those, 77% anticipate a revenue decline if the duties proceed. Moreover, 35% expect revenues to drop by at least 50%, and 5% foresee revenues falling to zero entirely.

The affected industries include wood and forestry, industrial manufacturing, and food and beverage, which could lead to income disruption for clients of mortgage brokers in these sectors. The prolonged trade uncertainty is already weighing on buyer confidence and the Bank of Canada's rate outlook heading into the second half of 2026.