Hamilton businesses anticipating job cuts due to expected tariffs

A new survey says that a third of Hamilton businesses are preparing for job cuts due to impending tariffs.

The Hamilton Tariff Impact Questionnaire, conducted by Hamilton’s Economic Development Division and the Hamilton Chamber of Commerce, shows that 32 per cent of the 214 surveyed businesses are anticipating job cuts due to U.S. President Donald Trump’s incoming “reciprocal” tariffs on April 2.

Almost 44 per cent of responses came from businesses employing between 10 and 99 employees.

The results show that more than half of the respondents expect tariffs to have a significant impact on their business, with almost 60 per cent saying they are extremely concerned.

Two-thirds of respondents in the Ontario Chamber Survey also reported that tariffs would have a negative impact on their business.

While many businesses are expecting to feel the impact of tariffs, almost 65 per cent of respondents say they anticipate a reduced demand for products and services.

The surveyed businesses reported that some support options could be provided through tax relief, negotiating trade agreements, and providing financial assistance.

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