Trade and Tariffs

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The tariff threats from the United States have raised concerns among Hamilton residents, our local business community, and all Canadians. Amid uncertainty and economic anxiety, the Hamilton Economic Development team is here to listen while providing insights and resources.

Like many Southern Ontario cities, Hamilton’s economy is deeply integrated with the United States. Significant trade and investment flow between our nations and through the Great Lakes area. The Economic Development team will continue to monitor the situation closely and provide updates as new information becomes available.

The Tariff Impact Questionnaire was developed through close collaboration between the City of Hamilton’s Economic Development and the Flamborough, Hamilton, and Stoney Creek Chambers of Commerce. This tool was produced to create a local lens on tariff impacts that were unavailable through national or provincial survey tools.

Download the Tariff Impact Questionnaire results Contact a member of our team

We acknowledge that the tariffs imposed by the United States on Canada have caused concerns among our businesses and residents. We assure you that Hamilton’s Economic Development Office is actively monitoring the situation and collaborating closely with federal and provincial partners to mitigate any potential impacts and advocate for Hamilton’s interests.

The situation is evolving, and we are navigating the economic and political implications of these changes. Economic Development is committed to providing weekly tariff updates and sharing relevant local information regarding tariff responses. We encourage all Hamilton residents to engage with trusted local and national journalism for real-time updates on trade negotiations.

Norm Schleehahn, Director, Economic Development, City of Hamilton

Small Business Support

The Hamilton Business Centre is a valuable resource for entrepreneurs and small business owners in Hamilton. It offers a range of services, including business consultations, workshops, and access to market research. The Centre aims to support the growth and success of local businesses by providing guidance on business planning, financing, and marketing strategies. Whether you’re starting a new venture or looking to expand an existing one, the Hamilton Business Centre provides the tools and support needed to thrive.

Check out the Hamilton Business Centre

Latest news in Trade and Tariffs

Canadian Government Launches Business Supports

Some of the supports that are already available include:

The Canada Small Business Financing Program, which helps small businesses obtain loans from financial institutions by sharing the risk with lenders.
Trade Commissioner Services, which help businesses grow and diversify their business operations by connecting them with funding and support programs.
A remission process, which provides exceptional relief from the tariffs imposed as part of Canada’s immediate response, as well as any future tariff actions.

Additional supports include:

Launching the Trade Impact Program through Export Development Canada. The 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.
Making $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. Businesses will also benefit from advisory services in areas such as financial management and market diversification.
Providing $1 billion in new financing through Farm Credit Canada to reduce financial barriers for the Canadian agriculture and food industry. This lending offer will help address cash flow challenges so that businesses can adjust to a new operating environment and continue to supply the high-quality agricultural and food products that Canadians rely on.

The Government of Canada has also announced that it will:

Defer corporate income tax payments and GST/HST remittances from April 2 to June 30, 2025, providing up to $40 billion in liquidity to businesses.
Deploy a new financing facility for businesses.
Provide more funding to Canada’s regional development agencies, so they can better support businesses.
Make enhancements to AgriStability benefits to provide additional support to agricultural producers in light of trade disruptions with the U.S. and China.

Click here for more information

Support Local

For those who can, consider purchasing goods and services from Hamilton businesses. Shopping locally not only helps our economy but also strengthens our community.

Local Chambers of Commerce

Local chambers of commerce can offer several key services to assist Hamilton companies concerned about U.S. tariffs on Canadian goods.

Chambers advocate at various government levels to influence trade policies and seek relief measures. They also provide networking opportunities to connect businesses with potential alternative suppliers and partners. Additionally, they offer resources and workshops on navigating tariffs, including strategies for cost management and finding new markets. By leveraging these services, companies can better manage the tariff challenges and maintain competitiveness.