New CFIB data shows that since the start of the trade war, nearly four in ten (39%) small businesses have seen increased sales of Canadian/locally made products – especially in the retail (44%), hospitality (43%) and wholesale (41%) sectors.
"If no deal is reached between Canada Post and its union and strike action takes place in the coming weeks, the impact on small business will be significant." - CFIB
The CFIB said 32% of business owners have already shifted to suppliers/markets within Canada, 27% plan to increase their investment in Canada, while 33% intend to reduce efforts in the U.S. over the next six months.
As small firms are dealing with U.S.-Canada and Chinese tariffs, the CFIB is urging government and all parties to find a way to fix the outstanding tax matters.
Small businesses need stability, said the CFIB, which is urging the federal government to recall Parliament immediately to scrap the upcoming 19% carbon tax increase.
The majority of small business owners support retaliatory tariffs but recognize that they will hit an even broader swath of our economy than the US tariffs themselves, says the CFIB.