Over 70% of Ontarians are concerned about the potential economic impact of proposed US tariffs on the province, a recent Nanos survey reveals. These tariffs, introduced by President Donald Trump, aim to impose a 25% levy on Canadian imports, excluding oil, which faces a 10% surcharge. In response, Canada plans to implement retaliatory tariffs on $155 billion worth of US goods.
The full impact of these tariffs and a potential trade war is uncertain but for many, the risks of what it all could mean is causing significant concern for what it could mean for our households, our province and the Canadian encomy as a whole.
Ontario residents on the same, concerned page
The Nanos study revealed, among other things, that people who live in Ontario largely agree that there is reason to be concerned with what is going on south of the border, and are not taking the threats and actions of the president lightly. A significant majority of Ontarians reported being apprehensive about the potential negative effects of proposed US tariffs on the province’s economy. Key findings of the study show:
- High level of concern: Approximately 76% of respondents expressed concern, while an additional 15% were somewhat concerned about the possible adverse impacts of US tariffs on Ontario’s economic health.
- Regional consistency: This apprehension is consistent across various regions within Ontario, including Golden West, Southwest/Central, North and East, Toronto and the Greater Toronto Area (GTA).
- Demographic insights: Concern spans across different age groups and genders, with both men and women, as well as individuals aged 18 to 34, 35 to 54 and 55 and older, expressing similar levels of unease regarding the tariffs’ potential impact.
Ontarians do have reason to be concerned. But, they are not alone.
Provinces most affected by proposed tariffs
The proposed US tariffs are expected to have varying impacts across Canadian provinces, depending on their economic structures and export dependencies.
- Ontario: As Canada’s manufacturing hub, Ontario is particularly vulnerable due to its significant exports of motor vehicles and parts to the US. Cities like Windsor, heavily reliant on the automotive industry, are anticipated to feel the brunt of these tariffs.
- Quebec: With a substantial aerospace sector, Quebec could face challenges if tariffs target this industry. The province’s aluminum production is also at risk, given its export relationship with the US.
- Alberta and Saskatchewan: These provinces, being major energy exporters, may be affected if energy products become subject to increased tariffs.
- New Brunswick and Newfoundland and Labrador: Both provinces have economies that could be impacted due to their export activities, particularly in energy and other sectors.
Strategies to mitigate personal impact
It would be wrong to suggest that there is anything anyone can do to totally insulate themselves from the impact of high tariffs, but there are things we can do to lessen the potential effects:
- Support local businesses: Prioritize purchasing goods and services from Canadian companies to bolster the domestic economy.
- Diversify investments: Review and adjust investment portfolios to minimize exposure to sectors most affected by tariffs.
- Stay informed: Keep abreast of trade developments to make informed financial and purchasing decisions.
- Advocate for policy engagement: Encourage local representatives to engage in dialogues aimed at mitigating the adverse effects of tariffs on the community.
Survey methodology
The survey was conducted between February 8 and 10, 2025, involving 920 Ontarians.
This article Ontarians concerned over US tariffs’ impact on provincial economy originally appeared on Money.ca
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
