New U.S. tariffs threaten to halve sales for many Canadian exporters

A fresh round of U.S. tariffs is scheduled to take effect on Wednesday, targeting a broad list of Canadian exports and potentially wiping out up to half of sales for affected firms. Northern Cables, which relies on the United States for 50% of its output, warned that the 50% duty would stop any cross-border shipments. Artisan jeweler Cindy Baldassi has already stopped shipping to the U.S. and is preparing to raise prices by 50% for domestic customers.

The Canadian Federation of Independent Business emphasized that the Canada-U.S-Mexico Agreement has protected most sectors, yet the new tariffs would touch roughly five percent of total trade, including items like hockey sticks and antiques. Other businesses, such as Monterey Textiles and Gull Lake Honey, report that the mere threat of the duties has already led to layoffs and market uncertainty. Officials and industry leaders are urging a last-minute deal or an extension to avoid severe economic fallout.