Economy and Finance: U.S. Tariffs

February 21, 2025

From February 14 to 17, 2025, we surveyed Canadians and Americans on the economy, personal finances, and the proposed U.S. tariffs.

Some of the key highlights of our survey…

  • The majority of Canadians (81%) are concerned that President Trump may use measures such as tariffs and trade sanctions to push Canada into a closer and more formal economic relationship with the United States. In response, 70% support a policy where the Government of Canada matches any tariffs imposed by the U.S. on a dollar-for-dollar basis.
  • On the other hand, only one-third (33%) of Americans are in favor of Trump’s administration imposing tariffs on products imported from Canada, and half (49%) think that it will negatively impact the U.S economy.
  • In recent weeks, approximately two-thirds of Canadians have reduced their purchases of American products, both in stores (63%) and online (62%). Additionally, 68% report increasing their purchases of Canadian-made goods. In contrast, this trend is less pronounced in the United States, where only 24% of Americans report buying more locally produced products.
  • Nearly one in five Canadian subscribers (19%) to American streaming services (such as Netflix, Prime Video, and Disney+) have canceled their subscriptions. Similarly, 30% of Canadians who had planned trips to the U.S. have now canceled their travel plans.
  • Canadians have mixed views on the U.S.: 27% perceive it as an enemy country, 30% as an ally, and another 27% as a neutral nation. Meanwhile, a majority of Americans (56%) consider Canada an ally.

Methodology

This web survey on the economy was conducted from February 14 to 17, 2025, with 1,550 Canadians and 1,001 U.S. residents, 18 years of age or older, randomly recruited from LEO’s online panel.

A margin of error cannot be associated with a non-probability sample in a panel survey. For comparison purposes, a probability sample of this size yields a margin of error no greater than ±2.49%, (19 times out of 20) for the Canadian sample and ±3.10%, (19 times out of 20) for the American sample.

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