{"id":167937,"date":"2026-08-14T13:30:12","date_gmt":"2026-08-14T13:30:12","guid":{"rendered":"https:\/\/www.europesays.com\/canada\/167937\/"},"modified":"2026-08-14T13:30:12","modified_gmt":"2026-08-14T13:30:12","slug":"is-canada-facing-more-business-closures-and-layoffs-ahead","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/canada\/167937\/","title":{"rendered":"Is Canada facing more business closures and layoffs ahead?"},"content":{"rendered":"<p>The tariffs \u201cwill cause massive dislocation for small businesses that rely on U.S. clients and American buyers that rely on Canadian suppliers,&#8221; says Dan Kelly, CFIB president. &#8220;Most of these businesses have been operating under the long-standing assumption that [Canada-United States-Mexico Agreement] (CUSMA)-compliant goods would remain tariff free. The prospect of losing sales, slashing prices, or having to pivot to new markets altogether, is generating a lot of small exporter anxiety in the lead-up to August 19.&#8221;<\/p>\n<p dir=\"ltr\">The U.S. government&#8217;s threatened 50% tariffs on $28 billion in Canadian goods could ultimately cost the Canadian economy around <a href=\"https:\/\/www.hcamag.com\/ca\/news\/general\/latest-tariff-threat-could-cost-tens-of-thousands-of-canadian-jobs-economist\/585082\" target=\"_blank\" rel=\"nofollow noopener\">50,000 jobs<\/a> \u2013 and the trade uncertainty driving that risk is unlikely to disappear before the end of President Donald Trump&#8217;s mandate, according to a previous report.<\/p>\n<p dir=\"ltr\">The five sectors with the largest concentrations of exposure are machinery and equipment; wood, forestry and building products; plastics, polymers and packaging; agricultural, food and beverage products; and arts, jewellery and creative products, according to the CFIB.\u00a0<\/p>\n<p>Already, more Canadian businesses are closing than opening, with <a href=\"https:\/\/www.hcamag.com\/ca\/specialization\/leadership\/why-are-business-entry-rates-in-canada-stuck-at-historic-lows\/572000\" target=\"_blank\" rel=\"nofollow noopener\">exits outpacing entries<\/a> for six consecutive quarters \u2013 a reversal that threatens job creation, wage growth and career mobility across Canada, the CFIB previously warned.<\/p>\n<p>Federal government\u2019s comments<\/p>\n<p dir=\"ltr\">Previously, Prime Minister Mark Carney called the tariff action &#8220;the latest in a series of unilateral U.S. trade actions&#8221; that violate CUSMA, adding that Canada has made detailed proposals to resolve the dispute and modernize the agreement, and stands ready to intensify discussions in the coming weeks, according to a CBC News report released in July.<\/p>\n","protected":false},"excerpt":{"rendered":"The tariffs \u201cwill cause massive dislocation for small businesses that rely on U.S. clients and American buyers that&hellip;\n","protected":false},"author":2,"featured_media":167938,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[17,39191,10868,14688],"class_list":["post-167937","post","type-post","status-publish","format-standard","has-post-thumbnail","category-canada","tag-canada","tag-canada-united-states-mexico-agreement-cusma","tag-canadian-federation-of-independent-business-cfib","tag-u-s-tariffs"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts\/167937","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/comments?post=167937"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts\/167937\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/media\/167938"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/media?parent=167937"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/categories?post=167937"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/tags?post=167937"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}