Tariff-hit industries struggling as trade war drags into second year - CityNews Toronto

As of March 24, 2026, industries heavily impacted by tariffs are reportedly facing significant challenges, marking the second year of an ongoing trade war. The prolonged conflict continues to exert pressure on businesses, leading to struggles across various sectors.

The report indicates that "tariff-hit industries" are struggling, suggesting a broad impact rather than isolated incidents. While specific sectors or companies are not detailed in this particular update, the general reference implies that businesses involved in international trade, particularly those dealing with goods subject to increased duties, are bearing the brunt of the protracted trade dispute.

The article highlights that the trade war is now in its second year as of the publication date, March 24, 2026. It refers to "tariffs" as the primary cause of industry struggles. However, this report does not specify particular tariff rates, Harmonized System (HS) codes, or the exact implementation dates of the tariffs contributing to the current challenges. Importers and trade compliance professionals should note that the impact stems from existing tariff measures that have been in place for over a year.

In light of these ongoing challenges, importers, customs brokers, and trade compliance officers are advised to maintain heightened vigilance. It is crucial to continuously monitor trade policy developments and official government announcements for any changes to tariff schedules or new trade measures. Businesses should regularly review their supply chains, assess the landed cost of goods, and explore potential mitigation strategies, such as duty drawback programs, tariff exclusions, or alternative sourcing options, to minimize the financial impact of sustained tariffs. Consulting with trade legal counsel or experienced customs consultants can provide tailored guidance in navigating this complex and evolving trade landscape.