Nearly half of Canadian manufacturers may freeze hiring or lay off workers if U.S. President-elect Trump imposes 25 percent tariffs on all Canadian goods.
A survey of 300 manufacturers found that 48 percent are considering these moves in response to the proposed tariffs, according to data released Dec. 19 by Canadian Manufacturers and Exporters (CME).
Additionally, 46 percent are considering postponing or cancelling planned capital investments, while 49 percent say they may shift some production to the U.S. if the tariffs are implemented.
“Tariffs will endanger nearly $600 billion in exports to our largest trading partner, two-thirds of which are manufactured goods,” CME president and CEO Dennis Darby said in a press release. “These findings show why we need an urgent and coordinated response from governments to protect manufacturing businesses, workers, and families,”…