Employment Law

What’s going on with Toronto businesses?

Toronto is staring down potential job losses as U.S. tariffs continue to squeeze local companies. A new City of Toronto survey finds nearly one-third of business owners expect to make staffing cuts in response to the escalating trade conflict.

• The findings were shared in a recent report to Mayor Olivia Chow’s executive committee, as part of the city’s broader tariff response plan.
• Conducted in partnership with the Toronto Region Board of Trade, the survey gathered input from 513 business owners and operators.
• 31% said they anticipate layoffs, and an equal share are already enacting hiring freezes.

The top concern: rising costs

75% of respondents expect increased costs due to tariffs — the most common concern reported.

• Businesses say they rely heavily on U.S. imports for raw materials, food, beverages, and manufactured goods.
• More than 50% of those surveyed depend on U.S. imports, while 37% export to the American market.

Industry feedback and growing fear

The survey was anonymous unless contact details were voluntarily submitted, meaning findings are based on self-identification by business owners or operators.

“I’m hearing directly from small businesses — obviously, our survey demonstrated this as well — that they’re scared. They’re really, really scared.” – Toronto City Councillor Josh Matlow

How the city is responding

Mayor Chow is moving to activate her 10-point tariff response plan aimed at easing the...

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