Impact of Tariffs on Canada

Canada's primary goal is to maintain access to the U.S. market, which has been crucial for its economy for over 150 years. Trade discussions suggest that while tariffs may be imposed, Canada is concurrently exploring alternative markets to mitigate potential economic fallout. The Canadian government is preparing a package of support for industries and workers affected by these changes, including measures like expedited employment insurance and tax payment adjustments. However, there is a significant concern that prolonged tariff disputes could lead to structural changes in market dynamics, causing long-term harm to Canadian exports.