'Half my business will be gone' - Firms in Canada and US fear trade war
Small business owners in Canada and the US are bracing for significant financial losses following the collapse of trade talks and the implementation of 50% reciprocal tariffs. Companies reliant on cross-border trade are struggling to adjust prices and maintain viability.
Why it matters
The trade war between the US and Canada threatens the stability of small businesses and disrupts established supply chains across North America.
Image source, Cindy Baldassi Image caption, Most of Cindy Baldassi's US sales will be wiped out, she says
Cindy Baldassi relies on American buyers to keep her stone-and-glass jewellery company going.
Some 75% of sales of pieces including amethyst, sea glass and agates from her business, CindyLouWho2, based in Calgary, Alberta, come from Americans.
But after trade talks between the US and Canada collapsed over the weekend and leaders of both countries pledged to slap 50% tariffs on each other's products, business owners on both sides of the border are bracing for the fallout.
With a majority of the items she sells falling under US President Donald Trump's newly imposed tariffs, Baldassi says she will need to add 50% to the price of most of her products to stay afloat.
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