More than two-thirds of Canadian businesses say they can survive a trade war with the United States that lasts longer than one year, according to a new survey of business owners.
While 67 percent of the business leaders surveyed by KPMG said they could withstand a 12-month trade conflict, 30 percent said they would also face “significant profit losses” if the tariff war lasted longer than that and 3 percent said their companies would go out of business in this scenario.
Conducted last week, the survey gauged the opinions of 602 business leaders from mid-sized and large companies across Canada and industry sectors. Around half run companies in two industries expected to be hardest hit by U.S. tariffs: industrial manufacturing, and energy and natural resources….