KPMG poll says 54 per cent of manufacturers can weather trade war of more than a year

Steelworkers work at the ArcelorMittal Dofasco steel plant in Hamilton, Ont., on Wednesday, March 12, 2025. THE CANADIAN PRESS/Nathan Denette

TORONTO — A new survey says roughly half of domestic manufacturers say they can weather a trade war that lasts more than a year.

The poll by KPMG in Canada survey says 54 per cent of manufacturers surveyed said they will be able to withstand a tariff war with the U.S. that lasts more than one year.

The result compared with 67 per cent of businesses surveyed in all industry sectors.

The report says 86 per cent of Canadian manufacturing leaders say it’s time for Canada to start relying less on the U.S.

The survey also says 76 per cent of domestic manufacturers say the ability to expand their customer base within Canada is vital to their survival.

The report was based on a survey of 602 Canadian business leaders between Feb. 13 and Feb. 28, including 154 CEOs in the manufacturing industry.

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This report by The Canadian Press was first published March 19, 2025.