USA declares economic war on Canada

So, it has come to pass, that the USA has declared economic war on it’s allies and trading partners – no favoritism shown there at all, despite previous agreements or pacts. Tariffs left, right and centre on Canada, and more to come.  The realities will need to be faced by all, at a macro and micro economic level, and decisions to be made at various government levels in order to protect one’s own economies.

That macro response, unfortunately, is out of the hands of mere mortals that own and operate businesses that will inevitably be affected at the grassroots level. While we hope that our elected officials will act on our behalf in a sane and logical manner at the macro level, we will be left with decisions at our individual business levels that only we can take. And that, my friends, we should take as a silver lining against the backdrop of a very dark cloud.

The challenge for the individual business owner or executive

Yes, accept that this has been a wake-up call for individual business owners, particularly those that felt that a status quo state of mind was fine, as long as “my business is stable”. Well, wake up folks, because things will change whether you like it or not. And the response to that is firmly in your hands.

So, what should I do, you ask?

There are many views out there that can help you, and I have attached a few articles at the bottom of this blog to provide some additional insight.

This is where you should start

However, you can start with a few of the ideas I have laid out below:

1. Accept that change is coming and start imagining your business under the new set of rules. Look forward, not back, and use your imagination. It is the one thing that cannot be taken from you by Trump and his MAGA cronies, and it is the single, most powerful thing you should rely on to help you through a challenging time.
2. Supply and demand: ask yourself whether your sources of supply will be impacted by current and potential future tariffs. If they are, start looking for alternative supply sources, whether local or international with countries that have more friendly trading relations with Canada (in other words, just about anyone else). The same applies to you customer base – take a similar view as with the supply side, and begin a process of looking for new markets.
3. Re-evaluate your business within this context with a 1 – 3 year forward looking window. Do some planning and strategizing and speak to advisors that can help you with this process. Don’t feel you need to do it alone. Alone is what likely got you to where you are today, particularly if this has come as a surprise. You need a revised business strategy and marketing strategy to tackle this challenge successfully.
4. Marketing strategically will help you stand out from the crowd – now more than ever you need this approach, as successful businesses favour the brave, the smart and the creative.
5. Buy and sell locally. Market yourself in such a way that attracts buyers to you. Such PULL tactics are part of a marketer’s toolbox – if you don’t understand this you are adopting PUSH tactics in your marketing and that may not work as well under the current and future scenario.
6. In the short term, do your financial basics: consider proactive steps to address shrinking margins and negotiate with everyone for better terms. Unfortunately, given that everyone in in a similar place, this may not be as possible as you would like and may only bring limited results to you.
7. Reach out to me today and I can help. Complete the form on this page and I’ll be in touch.

Interesting articles assessing the Trump tariff policies:

https://www.claconnect.com/en/resources/articles/25/the-impact-of-trumps-tariffs-a-comprehensive-analysis
https://www.bnnbloomberg.ca/business/economics/2025/03/04/what-trump-aims-to-achieve-with-his-tariffs/
https://www.bbc.com/news/articles/c20myx1erl6o

Donald Trump’s Tariffs are a Goal, Not Just a Tool