US and Canadian businesses brace for tariff fallout

US and Canadian businesses are bracing for severe fallout after trade talks collapsed, with both countries imposing 50% tariffs on each other's products. Many small firms expect significant sales losses, with one Calgary jeweller predicting half her US business will disappear. The new US tariffs apply to about $20bn of Canadian exports, while Canada's counter-levies begin September 8. Small businesses like Ontario's Lind Furniture and Toronto's Outclass face major cost increases, though larger firms may adapt more easily. American businesses are also affected, including a Portland store facing higher pillow prices and a California winery unable to ship to Canada for 18 months. A Washington shop near the border has lost 20% of Canadian customers due to the ongoing trade dispute.