Trade Diversification & Tariff Support
Significant Tariff Updates
Follow the Government of Canada’s official page for Canada’s response to U.S. tariffs on Canadian goods.
- August 22: Canada removing retaliatory tariffs on CUSMA-compliant U.S. goods
- August 20: Ontario Provides Support for Workers in the Face of Economic Uncertainty
- August 13: Province Launching Protect Ontario Financing Program to Support Sectors Impacted by U.S. Tariffs
- July 31: United States increase tariffs on non-CUSMA compliant goods to 35%
- March 26: The United States announced 25% tariff on all auto imports to the U.S.
- March 12: The United States have levied a 25% tariff on steel and aluminum
Federal and Provincial Funding
Funding Search Tools
- Regional Tariff Response Initiative: The $450-million RTRI helps businesses overcome trade disruptions and includes support for businesses in the steel and automotive industries.
- Ontario Together Trade Fund: helps businesses make near-term investments so they can serve more interprovincial customers, develop new markets and re-shore critical supply chains, strengthening Ontario’s trade security and diversification.
- Trade Impact Program: The Export Development program will deploy $5 billion over two years, starting this year, to help exporters reach new markets for Canadian products and help companies navigate the economic challenges imposed by the tariffs, including losses from non-payment, currency fluctuations, lack of access to cash flows, and barriers to expansion.
- Protect Ontario Financing Program: This fund will provide immediate relief for Ontario businesses that are facing tariff-related working capital challenges, such as: payroll, lease payments, utility payments, etc.
- BDC Business Loans: $500 million in favourably priced loans available through the Business Development Bank of Canada to support impacted businesses in sectors directly targeted by tariffs, as well as companies in their supply chains.
- Farm Credit Canada Trade Disruption Support Program: $1 billion in new financing through Farm Credit Canada to reduce financial barriers for the Canadian agriculture and food industry.
- EI Work-Sharing Program: The Work-Sharing Program provides EI benefits to employees who agree with their employer to work reduced hours due to a decrease in business activity beyond their employer’s control.
International Trade Missions
The Government of Canada and Ontario Government regularly participate in trade missions across the world. Participating in one of these in-market opportunities can provide insight and other benefits to companies that are considering exporting to new markets. Use the calendar links below to discover in-market opportunities that your company might want to participate in.
Supply Chain Diversification Tools
Export Support and Advocacy Organizations
- Agriculture and Agri Food Canada: Programs and services supporting innovation, sustainable farming, business development, risk management, trade and market development.
- Business Development Bank of Canada: EDC’s sister financial crown corporation, business bank devoted to entrepreneurs and small and medium-sized enterprises; additional tariff information.
- Canada Border Services Agency Export Program (CBSA): Canada-United States Relations – Federal trade agreements.
- Canadian Agri-Food Policy Institute (CAPI): A not-for-profit corporation guided by a diverse Board of Directors and works with partners to research complex food issues from across the agri-food supply chains, governments, researchers, and adjacent sectors.
- Canadian Chamber of Commerce (CCC): The CCC includes 400+ chamber members and 200,000 businesses and run the Business Data Lab. A collaborative initiative with Statistics Canada and benefiting from federal funding, it brings together data from a variety of sources to track evolving market conditions. The CCC recently launched a Canada-US Trade Tracker.
- Canadian Federation of Independent Business (CFIB): CFIB champions small business. With over 100,000 members, its the largest non-profit organization that advocate for small business with politicians and decision-makers.
- Canadian Manufacturing Exporters (CME): a non-profit industry organization with national board of directors represent manufacturers (2,500 members) of all sizes and subsectors in Canada.
- Department of Finance: Find the latest news and communications products from Department of Finance Canada.
- Export Development Canada (EDC): Provides trade finance and risk mitigation services to Canadian companies involved in export trade.
- Exporting to World Markets: This Government of Canada guide will provide you with resources to help you learn about foreign markets and make it easier for you to get your products to market.
- Farm Credit Canada (FCC): Financial support to exporting agri-food companies.
- Forum for International Trade Training (FITT): Practical international business training, gold-standard industry backed credentials, and researched-based business resources and is affiliated with EDC.
- Global Affairs Canada: Federal agency that manages diplomatic relations, promote international trade and provide consular assistance.
- Innovation, Science and Economic Development Canada (ISED): ISED works with Canadians in all areas of the economy and in all parts of the country to improve conditions for investment.
- International Trade Centre: Trade statistics for international business development.
- NGen Canada: ResilienceHQ provides practical information to help companies adjust to a new and challenging trade environment.
- Invest Ontario International Trade and Investment Offices: The Ontario Government operates a network of International Trade and Investment Offices, located in Canadian diplomatic Missions around the world. Working closely with Canadian federal, provincial and municipal partners, these offices raise Ontario’s profile and build commercial relations in key global markets.
- Minister of Export Promotion, International Trade and Economic Development: Responsible for EDC and a mandate to support and develop Canada’s export trade.
- Ontario Chamber of Commerce (OCC): Non-profit advocacy and member services organization with 60,000 members, including large multinational corporations, small-to-medium-sized enterprises, labour unions, postsecondary institutions, non-profits, associations and close to 150 chambers of commerce and boards of trade.
- Statistics Canada: Canada’s international trade and investment country fact sheet. Statistics Canada has also released a ‘Focus on Canada and the United States‘ portal.
- Toronto Region Board of Trade (TRBOT): Founded in 1845 and now represents more than 13,500 member businesses in the Greater Toronto Area.
- Trade Commissioner Service (TCS): TCS helps companies navigate the complexities of international markets and make better business decisions and is on the ground in more than 160 cities worldwide and offers information on how to diversify your exports.
The Tariff Impact Podcast
The Tariff Impact Podcast, brought to you by Trillium Network for Advanced Manufacturing and York Region Economic Development, is here to help York Region and Ontario-based manufacturers navigate global trade shifts, tariffs, and new funding opportunities.
Episode 1:
Todd Winterhalt
Senior Vice-President
Export Development Canada
Episode 2:
Dennis Darby
President
CM&E
Episode 3:
David Paterson
Representative – Washington DC
Government of Ontario
Episode 4:
Dennis Dussin
President
Alps Welding
Tariff Impact Surveys, Analysis, and FAQs
As national organizations continue to survey and analyze the impacts of tariffs on Canadian businesses the results of those studies will be added to the list below:
- Association of Municipalities Ontario: Macroeconomic impacts of the US-Canada trade war on Ontario
- Bank of Canada: Evaluating the potential impacts of U.S. tariffs
- CBC: Everything you want to know about the Canada-U.S. tariffs FAQ
- CFIB: Insights on the impact of U.S.-Canada tariffs
- KPMG: Prolonged Tariff Impact Survey Results
- Statistics Canada: Canadian Survey on Interprovincial Trade
- Toronto Region Board of Trade: Weathering the Storm: A Canadian SME Playbook for Navigating US-Canada Tariffs
- Toronto Region Board of Trade:When the Border Gets Costly: The View from Export-Focused SMEs
DISCLAIMER:
These resources are aggregated from a variety of sources. Links to third-party resources listed on this website are provided as an information service to the local business community. York Region Economic Strategy does not endorse, recommend, or approve the suitability of any third-party resources unless stated otherwise, and users should make their own inquiries and conduct due diligence as necessary. The Regional Municipality of York shall not be liable or responsible for any matter arising from use of these resources.
Regional Export Overview
According to Statistics Canada 2023 data, nearly 2,900 business establishments in York Region export goods and services with an annual total export value of $14.5 billion. Most exports are to the U.S. with 81% (or $11.8 billion) of total exports value, remainder of the exports are to non-U.S. countries with 19% ($2.7 billion).
Manufacturing is by far the largest export sector in York Region with 82% (or $11.9 billion) of total export value and 87% share of the overall U.S. destination. Wholesale trade is the next largest export at $1.7 billion (12%) of the total export value.
In 2023, York Region’s total goods imports amounted to $45.4 billion. Of these, over 62% ($28.1 billion) originated from non-U.S. countries, while the remaining 38% ($17.3 billion) came from the U.S.
The largest importing sector in the Region was wholesale trade, which accounted for 76% ($34.3 billion) of the import value. At the enterprise level, over 9,100 establishments in the Region were engaged in import activities.
View Interactive York Region Import / Export Dashboard
Market Diversification & Tariff Support Events
Our Team is Ready to Support Your Business
With the uncertainty around potential tariffs and trade disruptions, York Region Economic Development is working closely with our partners at all levels of government to ensure we are ready to assist businesses. The Regional Municipality of York is committed to supporting the business community across York Region.
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