The trade relationship between Canada and the U.S. has escalated sharply. After talks between the two countries broke down on August 21, 2026, the U.S. imposed a 50% tariff on roughly $20 billion of Canadian exports — spanning building materials, electronics, furniture, apparel, footwear, machinery, and agricultural goods — effective August 22. Canada has confirmed it will respond with matching dollar-for-dollar tariffs on select U.S. goods, including steel, dairy, appliances, agricultural equipment, pulp and paper, and electronics, beginning September 8, 2026.
These new measures come on top of existing U.S. tariffs of up to 50% on steel and aluminum, 35% on non-CUSMA-compliant goods, and 10% on energy exports, along with new levies on copper and metal derivative products. Autos remain in flux, and disrupted pricing and supply chains continue to affect manufacturing, construction, and infrastructure. For Ontario in particular — home to the country's largest concentration of manufacturing, steel, and auto-parts SMEs — this is a direct hit to costs, competitiveness, and cash flow on both sides of the border.
To support businesses, especially small and medium-sized enterprises (SMEs), we've assembled essential resources, expert guidance, and practical tools to help manage disruption, plan strategically, and identify opportunities in a changing trade landscape.
This page is updated regularly with the latest insights and programming to help you stay informed and ready for whatever comes next.
These playbooks are your concise, actionable guides to navigating this turbulent period. They are designed specifically for Canadian SME leaders who need immediate, low-cost strategies to mitigate the impact of these tariffs and emerge stronger.
Part 1 offers practical tactics for cash flow protection, cost control, supplier management, and payment term optimization.
Part 2 expands on these concepts with deeper strategies regarding customer communications, market diversification, business model adaptation, warehousing, competitive intelligence, corporate structuring, and accessing government relief.
Weathering the Storm, Part 1
Weathering the Storm, Part 2
Update (August 2026): Following the collapse of trade talks and the introduction of new 50% U.S. tariffs on August 22, we're preparing an addendum to the Tariff Playbook addressing the latest round of measures and Canada's September 8 retaliatory response. Check back here or follow World Trade Centre Toronto on LinkedIn for the update.
If your products qualify under CUSMA, you shouldn't be paying tariffs — but paperwork errors mean many Canadian businesses do. Our free toolkit helps you classify goods correctly, certify origin, and stay audit-ready.
- This page lists the specific U.S. products subject to Canada's counter-tariffs of 15%, 25%, and 50%, effective September 8, 2026, in response to the U.S. 50% tariff on Canadian goods. Organized by Harmonized System (HS) code, it reflects the current, in-force retaliatory tariff schedule.
- A free tool that allows businesses to quickly look up tariff rates for specific products and countries where Canada has a Free Trade Agreement. Users can access tariff information even without an HS code, making it easier to estimate costs for international trade.
- A searchable database that helps businesses find trade data by product using the Harmonized System (HS) code. It provides insights into import/export trends, key markets, and trade flows to support informed decision-making.
Regional Tariff Response Initiative in Southern Ontario — FedDev Ontario
- FedDev Ontario's Regional Tariff Response Initiative (RTRI) supports southern Ontario SMEs affected by tariffs, with non-repayable contributions of $125,000–$3 million and repayable contributions up to $10 million. As of September 2026, the program has been bolstered by an additional $1.5 billion, raising the non-repayable cap from $1 million to $3 million and introducing up to $2 million in new liquidity support for businesses facing cash-flow pressure.
Process for requesting remission of tariffs that apply on certain goods from the U.S. — Canada.ca
Outlines the federal process for businesses to request remission (relief) from tariffs applied to certain goods imported from the U.S., including eligibility considerations and how to submit a request.
Government of Canada: Navigating U.S. Tariff Challenges
- This webpage offers insights on trade and investment with the U.S., including market trends, key policy updates, and opportunities to support cross-border business growth to help businesses navigate the Canada-U.S. economic landscape.
RBC Trade Hub: Building a Resilient Economy
- Explore RBC's Trade Hub for in-depth research and strategic analysis on Canada-U.S. trade relations. The hub now features Trade Zone, a weekly briefing series covering the latest tariff developments, CUSMA negotiations, energy and pipeline economics, and cross-border sector impacts; giving businesses a current, ongoing read on trade risks and opportunities alongside RBC's flagship reports.
Tariff support for Canadian exporters — EDC Trade Impact Program
- EDC's Trade Impact Program (TIP) provides financing, insurance, and advisory support specifically for Canadian exporters affected by tariffs, helping businesses manage cash flow and mitigate trade-related risk.
BDC: Resources for Canadian businesses facing U.S. tariffs
- Access valuable guidance for businesses affected by U.S. tariffs, including a cash flow calculator to assess financial impacts.
