4 w. ago
Toronto businesses anticipate having to cut staff and freeze hiring due to tariffs
As much as we may want to avoid the subject, tariff talk continues to dominate the news cycle, with residents understandably confused about what's being taxed, from where, when, and how much — details that have changed multiple times at the whim of U.S. President Trump.As the levies persist, some cities will see greater impacts than others, as will some industries, though hardly any corner of the economy is immune. At a local level, the City of Toronto has launched an action plan that includes deferring industrial property taxes and a campaign urging residents to shop within their community rather than supporting American brands.Still, independent businesses are staring down the barrel of higher operating costs, logistical tribulations and more that, many say, will lead to even fewer jobs being available in the city when unemployment has risen to a brutal 8.7 per cent.Out of more than 500 small businesses that expressed their fears on th...
Economics
