New research commissioned by Purolator Inc. suggests uncertainty around trade policy and cross-border requirements is having a greater impact on North American businesses than tariffs themselves, as companies prepare for a key continental trade agreement review.
The survey of supply chain and logistics decision-makers in Canada and the United States points to growing strain on business planning, pricing and operations ahead of the July 2026 review of the Canada-United States-Mexico Agreement, also known as CUSMA or USMCA.
The findings highlight a shift in how companies are assessing trade-related risks, with unpredictability emerging as a more difficult challenge than the direct financial costs of tariffs. While tariffs continue to affect revenues, businesses report that changing rules and unclear conditions are complicating decision-making and long-term planning.
The full report, The Burden of Uncertainty: How North American Businesses are Shaping Their Response to Tariffs and What Trade Volatility Really Costs, is based on responses from 348 decision-makers across retail, technology, healthcare and industrial sectors, along with 41 in-depth interviews. It provides a snapshot of how companies are navigating trade volatility and preparing — or not — for potential changes to cross-border rules.
“The upcoming CUSMA / USMCA review is a critical moment for cross-border trade, yet many businesses are still reacting rather than preparing. What we see in the data is a readiness gap. Shippers need clear information and practical options they can use now, especially when decisions can’t wait for perfect clarity,” said Brett Huttman, vice-president of strategy, marketing and communications at Purolator.
According to the report, businesses are already experiencing measurable financial impacts from tariffs. On average, respondents said tariffs have reduced revenues by 23 per cent. Canadian companies estimated average annual losses of $661,000, while U.S. businesses reported average losses of $710,000.
Despite those figures, the report suggests financial costs alone are not the primary concern for many companies. Instead, uncertainty tied to evolving trade policies and compliance requirements is proving harder to manage.
The survey indicates most businesses have taken steps to respond to tariff pressures, but many remain unprepared for further disruption. While 93 per cent of respondents said they have made operational changes, only 39 per cent reported being fully prepared to implement additional measures if conditions worsen.
The findings also point to differences in how supported companies feel by their logistics partners. Just 16 per cent of Canadian shippers described themselves as “very supported,” compared with 30 per cent of U.S. respondents.
That gap underscores broader concerns about access to guidance and operational flexibility as companies adjust to shifting trade conditions.
“When uncertainty is high, businesses are looking for a partner that can provide expertise and capability at scale. Experience, reach and reliability matter most when shippers are asked to reroute freight, reassess suppliers or change plans with limited notice,” Huttman said.
The report suggests that many companies continue to respond tactically rather than strategically, even as the upcoming CUSMA review could shape trade conditions across North America for years.
Among the steps outlined in the report to help businesses navigate the next year are strengthening compliance with CUSMA rules, assessing exposure to tariffs, diversifying supplier networks and working more closely with logistics providers that can offer trade guidance.
The findings point to a broader challenge for businesses operating across borders: balancing immediate operational pressures with the need for longer-term planning in an environment where key variables remain in flux.
With the CUSMA review approaching, the report suggests companies may need to accelerate preparations to manage both the direct costs of tariffs and the less predictable effects of policy changes.
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