TORONTO — A new report says more than three-quarters of Canadian startups say tariffs will impact their business.
The survey of MaRS and Communitech ventures says 38 per cent expect a direct impact as a result of the tariffs, while 38 per cent say they expect indirect effects.
U.S. President Donald Trump is set to announce new so-called reciprocal tariffs on Wednesday.
The U.S. has already imposed 25 per cent tariffs on Canadian steel and aluminum, but additional measures are expected on Wednesday.
The report says the top concerns identified by startups are securing capital, attracting customers and expanding to new markets.
It says those issues are exacerbated by ongoing tensions with Canada’s largest trading partner.
This report by The Canadian Press was first published April 1, 2025.
The Canadian Press