The Survey Predates New u

The poll, conducted from June 25 to July 13 with 359 business leaders, also showed 15 per cent found other ways to reduce costs. Lachlan Wolfers, national leader for KPMG Law, said the longer-term trend suggests nearly 80 per cent of tariff costs could be passed to consumers. The survey predates new U.S. tariffs on Canadian dairy, alcohol, motor vehicles, cosmetics, and other goods announced for Aug.

19. Among exporters, 79 per cent say their shipments are CUSMA-compliant, and 49 per cent of all businesses call the trade deal critical. Thirty-three per cent plan to expand to new markets within one to three years, and 26 per cent are exploring markets where Canada has a trade deal. Many Canadian businesses were adopting an initial approach of absorbing some of the tariffs and obviously seeing how things played out. The longer-term suggestion is it moves to closer to 80 per cent is passed on through to consumers, Wolfers said.