The City of Toronto is implementing the Mayor’s Economic Action Plan in Response to U.S. Tariffs, is actively engaging with federal and provincial governments and supports a Team Canada approach. Toronto holds an integral role in the nation’s economy and the City is committed to working closely with leaders across the country to address the impact of the U.S. protectionism on local businesses and workers.
For real-time updates and assistance, connect with City staff to share how tariffs are impacting your business.
Canada has implemented $21 billion CAD in retaliatory tariffs on U.S. goods as of March 2025. The list includes:
At the Committee on Internal Trade meeting in March, the Honourable Anita Anand, Minister of Transport and Internal Trade, and her provincial and territorial counterparts agreed on additional measures to eliminate regulatory barriers to internal trade, encourage free movement of labour and to further standardize regulations across Canada.
Tariff countermeasures are intended to incentivize the United States to remove its unjustified tariffs against Canada. These countermeasures will remain in place until the U.S. eliminates its tariffs against Canadian goods.
The City of Toronto is taking strong action to mitigate the effects of tariffs and strengthen local economic resilience, including:
City Council has approved an Industrial Property Tax Deferral Program to provide immediate cash flow support to the most impacted businesses in the industrial property tax class. Rate payers in the industrial class have the opportunity to defer up to six months of tax payments and avoid any late fees, for the period of June 1, 2025, through November 30, 2025.
In order to qualify for the Program, applicants must provide documentation demonstrating tariff-related impacts to the business operations. Applicants should be prepared to submit the following documents at the time of application:
Applications are due by October, 31, 2025.
When you shop local your dollars stay in the local economy, creating jobs and contributing to the local tax base. This all creates the vibrant and livable communities in which people want to live and entrepreneurs want to start and grow their businesses in.
New investment is attracted to communities where small businesses thrive. This helps generate the tax revenue that builds critical infrastructure, provides amenities and funds programs for the community.
Toronto’s neighbourhoods are filled with Canadian-owned small business selling local goods and services. Explore your local Business Improvement Area.
Toronto’s iconic Market Districts offer unparalleled atmospheres, regular events, tasty treats and some of the most unique shops in the city:
Across the city there are also many incredible public markets and trade exhibitions to explore year round:
The City is assessing how U.S. tariffs will impact different sectors of Toronto’s economy and the coordinated response will evolve and react as needed. Below are the industries expected to be affected:
For businesses responding to the Toronto Employment Survey who received a postcard with a response code, please complete part two of the survey. This additional information helps us understand your trade activity, advocate for your industry and tailor programs and services to support your needs.