News Summary

The recent announcement from US President Donald Trump regarding new tariffs has left Canadian entrepreneurs facing uncertainty, despite the country being spared the most severe impacts. These tariffs, which exclude Canada and Mexico due to the CUSMA agreement, continue to affect non-compliant Canadian goods. Canadian startups are experiencing challenges, with a survey from MaRS and Communitech revealing that over 75% are impacted by the tariffs, leading to concerns about revenue and staffing. The trade war’s effects have prompted Lightspeed Commerce to adjust its revenue outlook due to deteriorating macroeconomic conditions. There is a growing demand among startups for increased funding and government procurement of Canadian products. Despite these challenges, the Canadian government remains committed to counteracting the tariffs and protecting its economy.