Extremely vulnerable: Toronto businesses brace for high costs amid tariffs [Video]

Toronto officials say businesses across the city are bracing for higher costs, supply chain issues, and possible job cuts as new U.S. tariffs threaten to shake up the local economy.

About 75 per cent of Toronto businesses expect rising costs due to U.S. economic policies, according to a new survey report done by the city. Nearly half anticipate major disruptions to their operations, including supply chain interruptions and reduced demand.

“We know business and workers are worried,” said Mayor Olivia Chow. “Toronto is deeply integrated in the North American market.”

About 37 per cent of businesses surveyed export goods to the U.S., while more than half rely on American imports — mainly raw materials, food, construction products, and machinery.

“That makes us extremely vulnerable to what’s happening south of the border,” Chow added. “And about a third of our businesses think they may have to cut jobs.”

The city has launched a …