REGINA — A Spring Financial survey reveals growing concerns and confusion around the U.S. tariffs.
The survey shows Saskatchewan residents are the least confident about how the tariffs will impact their lives (38 per cent) and the least likely to feel financially prepared for rising costs (42 per cent). They also report the lowest levels of buying Canadian in response to recent tariff threats (70 per cent).
According to the survey, nearly three quarters (74 per cent) of Canadians say the tariff threats make them nervous about their personal financial situation; this number jumps to 80 per cent for both Gen Z and those earning below a $50K salary. Despite these concerns, less than half of Canadians (45 per cent) are confident they know how the tariffs will affect their daily life.
“The economy has been increasingly difficult lately and the tariff threats are only adding to the uncertainty,” shared Tyler Thielmann, president and CEO of Spring Financial. “Canadians — especially those with less financial flexibility — are understandably worried about their financial future. Now, more than ever, it’s crucial to take steps to prepare for rising costs. That can look like shopping for deals, building an emergency fund if possible, and having a clear picture of your financial situation. Small, intentional actions today can help provide greater financial stability in the face of economic uncertainty.”
Additional survey findings show 59 per cent of Canadians believe they could withstand the increased cost of goods that will result from the tariffs, a sentiment that is strongest in Quebec (69 per cent) and British Columba (63 per cent).
Also, the majority of Canadians (80 per cent) have made a conscious effort to buy more Canadian-made products in response to the tariff threats, however only 72 per cent are willing to pay more to do so.
“We’re likely going to start seeing the impacts of the tariffs on our daily spending soon,” added Thielmann.
These findings are from a survey conducted by Spring Financial from March 13 to 17 among a representative sample of 1,500 online Canadians who are members of the Angus Reid Forum. The survey was conducted in English and French. For comparison purposes only, a probability sample of this size would carry a margin of error of +/-2.53 percentage points 19 times out of 20.
