Canadian businesses prepare for long-haul trade war

Canadian businesses prepare for long-haul trade war THE DECIBEL STAFF SHERRILL SUTHERLAND JAMESON BERKOW CAPITAL MARKETS REPORTER PUBLISHED 1 HOUR AGO Open this photo in gallery: Prime Minister Mark Carney speaks about the trade dispute with the United States at the Davie Shipyard in Levis, Que., on Monday. ANDREJ IVANOV/AFP/GETTY IMAGES COMMENTS SHARE SAVE FOR LATER Listen to this podcast 28:48 1X Listen to this episode by clicking above or subscribe to The Decibel on your favourite podcast app or platform: Apple Podcasts, Spotify, Amazon Music, iHeartRadio, Pocket Casts and YouTube. After trade talks broke down between Ottawa and Washington, U.S. President Donald Trump implemented 50-per-cent tariffs on $28-billion dollars worth of Canadian goods. Over the weekend, Prime Minister Mark Carney vowed to retaliate with dollar-for-dollar countertariffs, which are set to take effect after Labour Day. On Monday, President Trump announced the U.S. would also be doubling its tariffs on Canadian auto parts and steel to 50 per cent come Jan. 1, 2027. As the trade war escalates and deepens, Canadian businesses — already struggling under existing levies — are bracing for even more pain as uncertainty becomes the norm. Today, the Globe’s capital markets reporter, Jameson Berkow, is here. He’ll tell us what he’s hearing from business leaders, how these new levies and countertariffs will impact Canada’s economy, and how businesses are preparing for a lengthy trade war. Questions? Comments? Ideas? Email us at thedecibel@globeandmail.com Sign up for our Morning Update newsletter. Start your day with context and insight on the biggest stories shaping our lives SIGN UP EXPLORE NEWSLETTERS Report an editorial error Report a technical issue Editorial code of conduct Comments READ OR POST COMMENTS Diversions Horoscope Daily astrology with Sally Brompton Daily Crossword Solve today's puzzle Daily Cryptic Witty word play at its best Sudoku Three difficulty levels to solve Follow related authors and topics DONALD TRUMP FOLLOW ECONOMY FOLLOW MARK CARNEY FOLLOW TRADE AND COMMERCE FOLLOW Authors and topics you follow will be added to your personal news feed in Following. Interact with The Globe GLOBE CLIMATE CHANGE NEWSLETTER Our world is changing Take a deeper dive into Canada’s environment and climate change news from Globe reporters SIGN UP BUSINESS BRIEF NEWSLETTER Get daily in-depth business news and analysis A daily look at the most important…