The flags of Canada and the United States fly outside a hotel in downtown Ottawa, on Saturday, Feb. 1, 2025. (THE CANADIAN PRESS/Justin Tang)
A new report from the Winnipeg Chamber of Commerce sheds light on the growing financial and operational challenges Manitoba businesses face due to potential U.S. tariffs.
The report, The Cost of Tariffs: How U.S. Trade Negotiations Are Impacting Manitoba Businesses, reflects insights from 116 businesses across various industries that participated in the Chamber’s Manitoba Business Impact Survey from February 2 to 19, 2025.
According to the findings, 72 percent of businesses expect tariffs to have a significant financial impact, either through increased costs or reduced revenue. Additionally, 62 percent of businesses report already feeling the effects of U.S. tariffs, while 48 percent anticipate challenges from Canada’s countermeasures. The uncertainty surrounding trade policies has left 43 percent of businesses hesitant to take action, awaiting further clarity before making strategic decisions.
“These findings provide valuable insights into the uncertainties and realities our members are facing,” said Loren Remillard, president and CEO of the Winnipeg Chamber of Commerce.
“The threat of tariffs poses significant challenges for Canadian businesses, from supply chain disruptions to increased costs. As we continue to advocate for our members, understanding their challenges and priorities allows us to better support them through initiatives, resources, and policy recommendations.”
The Chamber hopes the report will help guide trade policy advocacy efforts, business support programs, and economic development initiatives across the province.
Read the full report below:
Winnipeg Chamber Tariffs Business Impact Report – February 2025 by ChrisDca on Scribd
