A survey of leaders from Canada’s larger businesses indicates two-thirds believe they can weather a trade war that lasts more than a year. This is from a KPMG survey which was taken last week. Eighty-six per cent support retaliatory tariffs against the United States. A KPMG news release says the uncertainty around the Canada – U.S. relationship and trade policy has had Canadian companies looking for ways to mitigate risk and tariff-proof their organization.

It varies by company and industry but among the strategies are identifying areas to optimize and streamline operations, forming partnerships to open up new markets, diversifying supply chains, seeking exemptions and incorporating tariff and transfer pricing plans.

In a separate survey, 96 per cent of Canadians want inter-provincial barriers removed and 91 per cent say the trade war has convinced them that Canada needs to maintain its dairy, eggs and poultry “supply management” system.