Written by Dannie Deng, The Chamber Student Intern, Master in Management Program, University of Winnipeg

While the uncertainty fuelled by potential U.S. tariffs is undeniable, so is the window of opportunity it has created. 

The facts are clear: the U.S. is a major trading partner for Manitoba, with $14.509 billion in merchandise exported there in 2024 — accounting for 69.4% of all exports. If tariffs take effect, they will undoubtedly impact the 913 Winnipeg exporters to the U.S. and the many businesses that may pull back investment and halt growth while waiting to see the true impact of this decision on both countries. 

In our recent Manitoba Business Impact Survey, we asked businesses of all sizes and sectors across the province how potential tariffs are impacting their operations and revenue. We found: 

• 72% of businesses expect the biggest impact of U.S. and Canadian tariffs to be financial—either through increased costs or reduced revenue.   

• 62% of businesses reported that U.S. tariffs have already impacted or will impact their business, while 48% say the same about Canada’s counter tariffs.  

Hit this link to read our survey results and analysis in our new report: The Cost of Tariffs.

While the threat is real, Winnipeg retains trade advantages with a diverse economy. A Canadian Chamber Business Data Lab analysis ranked Winnipeg 38th out of 41 cities in tariff exposure, reinforcing its position as a lower-risk trade environment. 

Let’s capitalize on this window of opportunity. With its central North American location and strong infrastructure, its trimodal transportation system connects businesses to 100 million consumers within a 24-hour drive, ensuring efficient and reliable trade flows.   

Moreover, Winnipeg businesses are not facing this challenge alone. The Winnipeg Chamber of Commerce is advancing a “Team Canada” approach to support our members, working closely with stakeholders to discuss measures that help businesses stay competitive and adaptive. 

These challenges highlight the pressing need for immediate action and collaboration, and the upcoming ECONx summit offers an ideal platform to tackle them head-on.  

One of ECONx’s key sessions, “Winnipeg as a Prime Trade and Investment Destination”, will explore actionable solutions to strengthen trade and investment in Winnipeg. Led by Carlo Dade, Director of Trade and Trade Infrastructure at the Canada West Foundation, the session will feature strategic partners like Canadian Manufacturers & Exporters (CME), Economic Development Winnipeg, Little Brown Jug Brewing Company, CentrePort Canada, Province of Manitoba, and World Trade Centre Winnipeg. Together, they will explore current trade dynamics, identify new investment opportunities, and address the critical question:  

What strategic investments and initiatives will best position Winnipeg to attract global investment and ensure long-term economic prosperity? We believe Carlo Dade sums it up well in this quote from Canada West Foundation’s North American Brief Issue 23 | Feb. 2025

“If the goal is to create more trade within Canada, then policies that promote and facilitate internal trade are needed more than policies that remove the last few stubborn barriers……Canada already has an abundance; we argue overabundance, ofresources to facilitate external trade. These can be retooled and applied to promote internal trade, which is far cheaper, faster and more efficient than creating, organizing, staffing, training and operationalizing a whole new bureaucracy. Taking these steps now will build on the awareness and momentum of the current crisis.”  

— Carlo Dade, Director, Trade and Trade Infrastructure Centre, Canada West Foundation

ECONx offers a crucial platform for Winnipeg to reinforce its status as a premier destination for trade and investment. This is your opportunity to hear Carlo Dade share valuable insights on how we can promote trade and drive growth. Bringing together stakeholders from various sectors — including policymakers, business leaders, and economic development partners — the summit will explore current trade dynamics, investment prospects, and strategies to strengthen Winnipeg’s competitive position.  

Join us at ECONx on April 29, 2025, at RBC Convention Centre Winnipeg to be part of the conversation and help shape the future of Winnipeg’s economy. 

Register for ECONx 2025: https://winnipeg-chamber.com/econx-2025/   

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