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.
List of products from the U.S. subject to 25% tariffs
- The webpage includes a detailed list of U.S. imports that may be impacted, organized by Harmonized System (HS) codes, aligning with Canada’s Customs Tariff Schedule to specify which products will be subject to the new 25% tariff measures.
- 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.
FedDev Ontario: Regional Tariff Response Initiative
- A federal initiative through FedDev Ontario aimed at restoring competitiveness for Ontario's steel, automotive, and other tariff-exposed sectors, announced as part of the 2026–27 Departmental Plan.
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 insights on strengthening Canada’s economy and North American trade. This resource offers expert analysis, reports, and strategies to help businesses navigate global trade challenges and opportunities.
- Access comprehensive insights into the U.S. market, including economic trends, regulatory changes, and sector-specific opportunities. This information helps Canadian businesses navigate the complexities of exporting to the U.S.
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.
We provide expert consulting services to help businesses diversify their export strategies. Our offerings include export readiness assessments, market research, export plan development, and guidance on CanExport Grant applications. Our team of Certified International Trade Professionals (CITP) is here to support you at every stage of your international expansion.
For personalized assistance, contact us at wtc@bot.com.
