Every week during this tumultuous period, we conduct a survey of Canadians and Americans to explore their views on the economy and their finances.
Compared with last week, results remain fairly stable. Some of the key highlights of our survey…
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The majority of Canadians (84%) 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, 74% support a policy where the Government of Canada matches any tariffs imposed by the U.S. on a dollar-for-dollar basis, a 4-point increase since last week. Support is higher among Liberal (92%) and Bloc voters (90%).
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On the other hand, a third (34%) of Americans are in favour of Trump’s administration imposing tariffs on products imported from Canada, a 3-point increase since last week. Half (52%) think that it will negatively impact the U.S. economy. One third of Americans (35%) are in favour of imposing tariffs on Mexico.
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Two thirds of Canadians have reduced their purchases of American products, both in stores (68%) and online (65%). Additionally, 71% report increasing their purchases of Canadian-made goods.
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Eight out of ten Canadians (80%) believe consumer prices have increased in the past few weeks.
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Canadians have mixed views on the U.S.: 29% see it as an enemy, 32% as an ally, and another 24% as a neutral nation. Conservative voters are more likely to think that the U.S. is an ally (48%). Meanwhile, a majority of Americans (59%) consider Canada an ally.
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Six out of ten Canadians consider their household finances in good shape (61%), representing a 5-point decrease since last week’s measure. In contrast, 55% of Americans consider their finances to be good.
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40% of currently employed Canadians fear losing their job within the next 12 months, a proportion that is similar in the United States (42%).
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Moreover, 46% of Canadians report living paycheque to paycheque. The proportion of Americans saying they are living paycheque to paycheque is still much higher, with 56% of respondents saying they do.
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Half of Canadians (52%) believe the country is in an economic recession. This proportion is similar in the United States (55%).
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A majority of Canadians (81%) rate their mental health as excellent or good, a proportion that is higher among Quebec respondents (87%) and those aged 55 and older (87%).
Methodology
This web survey on the economy was conducted from March 7 to 10, 2025, with 1,548 Canadians and 1,010 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 ±2.50%, (19 times out of 20) for the Canadian sample and ±3.10%, (19 times out of 20) for the American sample.
