Canada’s small businesses are under severe strain as US tariffs take a growing toll, threatening closures and job losses across the country.A new survey by the Canadian Federation of Independent Business shows nearly six in ten small firms are struggling with tariffs on steel, aluminum, and other goods, while almost a third face challenges from the loss of the US de minimis exemption for low-value imports.“Small businesses don’t have a lot of runway left,” said Corinne Pohlmann, CFIB Executive Vice-President of Advocacy. “If nothing changes, many will be forced to make tough decisions — layoffs, paused investments, or even closure.”.The CFIB report reveals 62% of small firms are facing higher costs, 48% report falling revenues, and 36% have put investments on hold. Nearly 20% said they could survive less than six months under current tariff conditions.With Ottawa collecting billions in additional tariff revenue, 82% of surveyed entrepreneurs believe the government should direct funds to the small businesses most affected. CFIB is calling for measures such as temporary cuts to the small business tax rate or a targeted tariff rebate.“The trade war’s impact on Canada’s small businesses should be top of mind for the government,” Pohlmann said. “Canada can’t boost productivity or grow its economy without protecting the entrepreneurs who drive it.”
