Troyhann Santos, owner of Lax Shack, learns her lacrosse equipment store will face a 25% tariff on most U.S. imports due to Canada’s counter-tariffs. As U.S. tariffs take effect, Canadian businesses brace for economic repercussions. The retaliatory measures affect many sectors, especially small businesses like Santos’s, which often lack the resources to cope with sudden costs. Santos prepares to raise prices for imported merchandise, worrying about the viability of her business amidst the turmoil. Other small businesses, such as Cluck Clucks, also report challenges due to these new trade barriers, highlighting the broader economic impacts.
Troyhann Santos checks the federal government's latest list of counter-tariffs and makes a crushing discovery. Starting immediately, she'll have to pay a 25 per cent tariff on most merchandise coming into her lacrosse equipment store, Lax Shack, in Pickering, Ont. "To get hit with something like this is terrifying," said Santos. "It's a terrible gut punch." Billions of dollars and thousands of jobs are on the line as Canadian businesses grapple with U.S. President Trump's tariffs, the bulk of which are set to take effect on April 2.
Now, some businesses unaffected by Trump's tariffs are learning that they won't emerge unscathed from the trade war, because goods they import from the U.S. are getting hit with Canada's counter-tariffs. The problem is especially concerning for small businesses, which often don't have deep pockets to help them weather the storm.
On Thursday, after Trump imposed tariffs on steel and aluminum exports, Canada hit back with more tariffs, this time on $29.8 billion worth of U.S. goods. Targets include U.S. steel, aluminum, some electronics and unfortunately for Santos, sports equipment. Almost all of the lacrosse gear she sells, including sticks, balls and nets, is imported from the U.S.
"We have shipments that are coming in on a daily basis, so this will affect us immediately," said Santos. "We're going to have to increase our prices to reflect that 25 per cent increase." She's not the only small business caught in the crossfire. Cluck Clucks, a small but growing fast food chain in the Toronto area, says the counter-tariffs are making things difficult for them as well.
Collection
[
|
...
]