'In business, indecision is killer' – Canadian firms seek certainty in tariff war

“As far as our understanding goes, not a lot of businesses are thinking about these longterm investments right now. It just, they just are not in the mindset,” he said.

“The biggest fear that we all have right now is, I don’t know how long this is going to go. If it is going to be six months, a year, 18 months, we can still survive. But let’s say this goes on for like two years, three years then oh, my goodness, it will be, really, really hard.”

This has been the toughest period for the industry in his 20-year career, as the sector faces a combination of challenges, he said.

Mr Gupta recalled how easy it was for him to get a well-paying job early in his career.

“Even when I was graduating, we were getting paid like crazy. And we were so arrogant that we would not even pick up calls from recruiters,” he said.

“But now with AI, with tariffs, the economy, everything, everybody that I know is struggling,” he said.

Statistics Canada reports that 56% of all businesses that export to the US have taken measures to mitigate the impact of tariffs.

More than 30% have delayed major investments and expenditures, while 25% sought alternative customers outside the US.

The Bank of Canada said on Wednesday that exports to the US dropped by more than 15% in April. Steel and aluminium exports were down by 25% and 11%, and the export of vehicles had fallen by 25%.

But despite everything, Mr Love remains positive.

He said businesses can navigate the challenges as long as the US does not keep changing its trade policy.

“We’re entrepreneurs. We are full of piss and vinegar, as they would say,” he said.

“And so we are doing everything that we possibly can to keep fighting. And I think we will be successful; we just need to know what the ground rules are.”