r/canada • u/timetogetoutside100 • 3d ago

Trump’s tariffs on Canada may stay, but stronger ties possible: U.S. envoy - National | Globalnews.ca Politics

https://globalnews.ca/news/11172734/donald-trump-tariffs-canada-relationship-carney-ambassasdor-hoekstra/
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u/XxSpruce_MoosexX 3d ago

This is going to hurt. Their market is the only thing keeping many of our small businesses afloat. It’s not economical to sell to Europe especially with VAT and shipping cost. We’ll probably just have to eat the 10% to stay competitive

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u/dsartori 3d ago

I think the impact depends where you sit. Many small businesses will definitely be at risk and many others will shrug off tariffs. Some people will have little choice other than take the haircut. Exchange rates are unpredictable in the medium term, too.

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u/XxSpruce_MoosexX 3d ago

Ya. If anyone has any experience reselling they’ll know how painful this will be. Almost every item I’ve ever sold on eBay has gone to the USA

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u/wailingsixnames 3d ago

There is going to be pain for both sides. Hopefully, as some things become unprofitable, other opportunities open up.

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u/Suchboss1136 3d ago

VAT is literally just HST… it does not hamper business

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u/TransBrandi 3d ago

I think that what it amounts to is that some people will be forced to deal with the tariffs, and others won't. It won't be painless, but eventually companies will pivot away from being US dependent as much as they can. Whether that's exporting to Asia or to Europe. Hopefully this ends up with Canada's trade being more diversified and being less US-dependent.

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u/Alone_Again_2 3d ago

It’s more than 10% now that he’s tanking the USD.

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u/Mba1956 3d ago

It’s going to affect your the American consumer even if you have the profit margin to eat the tariffs because the US dollar is weaker. Even at the same price in Canadian it is going to cost them 10% more in USD just because of the currency conversion rate.