One year into Washington’s tariff offensive, a slim majority of Canadian small businesses no longer view the United States as a reliable partner – a shift that rippled from factory floors into credit and housing forecasts. New survey data from the Canadian Federation of Independent Business (CFIB) showed that 52% of small firms no longer considered the US a dependable trading partner, while 68% reported being negatively affected by American tariffs. Three quarters said the tariff fight strained relationships with US partners or clients, up sharply from 49% in March 2025.

 

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