Some Canadian companies are considering a move to the United States as a strategy to evade tariffs and protect the future of their businesses, a new survey suggests.
Nineteen percent of the 283 Canadian companies that participated in the survey indicated they would consider relocating part or all of their production to the United States to safeguard the sustainability of their operations, the survey from PricewaterhouseCoopers LLP Canada found.
Many of the businesses considering a move south of the border were from the industrial and automotive industries.
“While a lower percentage—19 percent—are looking at moving production to the United States, this is still a fairly significant number that does raise concerns for the Canadian economy,” the report said. “It’s also notable that the percentage considering this action rises to 37 percent among respondents in the industrial manufacturing and automotive industries.”…