Canadian business groups brace for tougher trade challenges as Trump begins second term

Canadian business groups are preparing for potential trade challenges as Donald Trump begins his second term as U.S. president. His administration is expected to adopt a tougher trade stance, which may differ significantly from his first term. Finance Minister Chrystia Freeland reassured Canadians that the government is ready to engage with Trump again. However, business leaders warn that past experiences may not guide future negotiations effectively. Trump's promise to impose tariffs on imports raises concerns for Canadian exporters. The Canada-United States-Mexico Agreement will also be reviewed in 2026, with Trump indicating plans to renegotiate it.