Canadian Businesses Brace for Change: Local Partnerships, Tariffs, and What to Watch This Week
By Robert Marshall
July 29, 2025
What’s at Stake for Canadian Business This Week (Jul 29 – Aug 4, 2025)
Canadian businesses are facing a week of major updates in macroeconomics, trade, and the shift to local partnerships. These developments could impact pricing, supply chains, and growth plans, so here’s what to watch.
1. Bank of Canada Holds Rates Steady (Wednesday)
The Bank of Canada is widely expected to keep its policy rate at 2.75 percent for the third straight meeting on July 30.
Strong job growth and core inflation at around 3 percent are keeping rate cuts on hold, although some economists predict we could see one or two reductions later in 2025.
Watch for important commentary on trade and fiscal policy in the new Monetary Policy Report.
2. US-Canada Trade Deadline Approaches (Saturday, Aug 1)
With the August 1 deadline approaching, U.S. and Canada trade talks are still at a standstill. President Trump has signaled he may impose 35 percent tariffs on Canadian goods unless a new deal is reached.
Ontario Premier Doug Ford is urging a dollar-for-dollar response, including tariffs on U.S. steel and aluminum if talks break down. Ford’s message to Ottawa: “We need strength, not weakness.”
3. Local Supply Chains in the Spotlight
Across Canada, businesses are investing more in local suppliers and domestic manufacturing. Ongoing global trade uncertainty and talk of new tariffs are pushing more companies to rethink their sourcing strategies.
This renewed focus on building Canadian supply chains gives small and medium businesses a real opportunity to connect, collaborate, and grow together.
4. Digital Tools Driving Business Connections
Recent studies show a sharp increase in Canadian SMBs adopting digital platforms for procurement, networking, and sales. Companies that embrace online tools like CanDoBusiness are finding it easier to access new markets, build trusted supplier relationships, and stay competitive as old trade habits shift.
5. Canadian Dollar Weakness Hits Currency Markets
The Canadian dollar slipped to a recent low, trading near CA$1.373 per USD as investors move toward the U.S. dollar in a volatile week.
A weaker loonie raises import costs but can help exporters. Keep an eye on how currency swings could affect your business, especially if you deal in cross-border trade.
✅ What It Means for Your Business
Borrowing costs should remain steady for now, but be prepared for possible changes this fall.
If you import or export, keep an eye on tariffs and the dollar.
Now is the best time to source locally, adopt new digital tools, and build Canadian partnerships through CanDoBusiness.
Thank you to all the businesses that signed up this week, especially the many new members from Mississauga and Peel region. Your support is helping build a stronger, more connected Canadian business community.
Ready to future-proof your business? Join CanDoBusiness today, connect with trusted local partners, and take control of your supply chain, no matter what the headlines say. Post your first RFQ and see what Canadian collaboration can do for you.