New U.S. Tariffs Raise Economic Concerns Across Canada

The latest round of U.S. tariffs announced by President Donald Trump has once again put Canada–U.S. trade relations in the spotlight. While the proposed measures have not yet fully taken effect, Canadians are already paying close attention to what they could mean for the economy and for Canada’s relationship with its largest trading partner.

Our latest survey explores how Canadians are responding to the announcement, how much confidence they have in Canada’s negotiating position, and what they expect will happen next. For more on broader sentiment, see our Canadian Economic Confidence Tracker and our Canada–U.S. Relations research.

• 68% of Canadians say they are closely following Canada–U.S. trade developments.

• 80% had already heard about the new U.S. tariff announcement.

• 76% believe the tariffs represent a serious threat to the Canadian economy.

• 53% express confidence in Prime Minister Mark Carney’s ability to negotiate the best possible outcome for Canada.

• 40% expect only some of the announced tariffs will ultimately be implemented, while others will be delayed, reduced, or cancelled.

Few issues currently command as much public attention as Canada–U.S. trade relations. More than two-thirds of Canadians report following tariff developments closely, and awareness of the latest announcement is already widespread.

That awareness is accompanied by concern. More than three-quarters of Canadians view the proposed tariffs as a serious threat to the Canadian economy, a perception that is remarkably consistent across demographic groups and especially pronounced in British Columbia. For context on Canada’s trade relationship with the United States, readers can consult the Government of Canada’s Canada–U.S. trade resources and the Bank of Canada.

Canadians who are paying closer attention to the issue tend to feel more confident navigating its complexity. While they are more likely to see the tariffs as a serious economic threat, they are also more likely to express confidence in Prime Minister Mark Carney’s ability to negotiate Canada’s interests and less likely to say they are uncertain about the country’s response.

At the same time, opinions remain divided between targeted retaliatory measures, continued negotiations, and other approaches. The findings suggest that greater familiarity with the issue leads to stronger convictions rather than greater polarization. 

Despite the attention surrounding the announcement, Canadians are not expecting an all-or-nothing outcome. Rather than anticipating the tariffs will be implemented exactly as announced, the most common expectation is that negotiations will lead to at least some changes before the measures take effect.

Taken together, Canadians recognize the risks posed by escalating trade tensions, but many also believe there remains room for diplomacy and compromise. Combined with the modest majority expressing confidence in Canada’s negotiating position, the findings suggest that public expectations are less about confrontation and more about reaching a workable resolution.

Trade disputes between Canada and the United States rarely affect economics alone. They also shape business confidence, public expectations, and political sentiment. To explore the complete findings, read the full report.

This study is based on an online survey of 1,516 Canadian residents aged 18 and older, conducted from July 25 to 27, 2026, using Leger’s LEO online panel. Results were weighted according to age, gender, mother tongue, region, education, and presence of children in the household. For comparison purposes, a probability sample of this size would have a margin of error of ±2.5%, 19 times out of 20.