19 Canadian Business Leaders Who Refused to Be Shaken by U.S. Trade Wars

Canadian business leaders are responding appropriately as the U.S. trade war escalates under the Trump Administration. Their years of experience and economic strategies make them resilient despite economic pressure. From finding new markets and supply chains to playing around the tariffs, they are not shaken by the U.S. trade war. Here are 20 Canadian business leaders who refused to be shaken by U.S. trade wars.  

Naheed Nenshi

Naheed Nenshi is the former mayor of Calgary and is currently the CEO of a Calgary-based consulting firm. Refusing to be shaken by U.S. trade wars, Nenshi fights back economically and politically through his businesses. He uses his urban leadership during oil crashes to bolster resilience, rejecting U.S.-centric trade reliance.

Jim Balsillie

BlackBerry co-founder Jim Balsillie is a tech visionary unshaken by the U.S. trade war. With his smartphone expertise and having negotiated multi-million dollar deals, Balsillie knows his way around. A powerful investor in the tech sector, he’s likely pushing startups to pivot toward Asia and Europe, reducing U.S. dependence.

Prem Watsa

Prem Watsa is a Canadian businessman and the CEO of Fairfax Financial Holdings, based in Toronto. Watsa is often dubbed “Canada’s Warren Buffett,” thriving in economic turbulence and efficiently handling U.S. pressure. Having survived past crises and economic wars, he has reallocated capital to undervalued Canadian firms poised to weather the storm.

Linda Hasenfratz

Linda Hasenfratz has criticized the U.S. trade war, saying, “Nobody can absorb this kind of cost, not the automakers, not the suppliers, not consumers.” She is leading the Linamar Corporation and expanding it into the aerospace and industrial sectors. Since the U.S. depends on Canadian automakers, automation keeps production costs competitive.

Catherine McKenna

Catherine McKenna was the former Environment Minister and is currently an infrastructure advisor. She’s reportedly advising firms like Aecon Group to prioritize domestic infrastructure projects, countering Trump’s tariffs. From pushing for green supply chains to steering local businesses towards self-sufficiency, she is not shaken by the U.S. trade war.

Tobi Lütke

Tobi Lütke is the CEO of Shopify and is unshaken by the U.S. trade war. As one of the biggest e-commerce stores that powers millions of users, Shopify is thriving. His rejection of tariff panic is rooted in Shopify’s borderless platform since 80% of its revenue comes from outside Canada. His company does well with personalized stores, easy payments, and various tools that attract users.

Heather Reisman

Heather Reisman, CEO of Indigo Books & Music, rallied consumers to support domestic goods and services. Facing potential cost hikes on U.S.-sourced books and goods, Reisman has shifted focus to Canadian publishers and artisans. She has successfully protected her retail chain from the tariffs and continues to grow.

Michael McCain

Among the wealthiest people in Toronto, Michael McCain is the CEO of Maple Leaf Foods, a Canadian packaged meat company. His company makes more than a billion dollars annually, and the U.S. trade war is no challenge. McCain accelerated a $100 million investment in Canadian plant-based protein facilities, avoiding tariffs before it hit the agricultural sector.

Patrick Dovigi

GFL Environmental’s founder, Patrick Dovigi, stands unshaken as U.S. trade wars escalate. His company revolves around waste management services in Canada and the United States. Amidst U.S. revenue drops and cross-border operations threats, his company has redirected around $50 million to expand Canada’s recycling plants.

Murray Edwards

Murray Edwards, chairman of Canadian Natural Resources Limited, refuses to be shaken by the U.S. trade war. The 10% tariffs imposed on Canadian energy resources have failed to cause any damage. Most resources and energy plants are thriving without any issues, while new markets are being opened in Asia.

Steve Williams

Steve Williams, the former CEO of Suncor Energy from 2012 to 2019, is a Canadian businessman who does not fear tariffs. His role as an adviser is commendable. He educates industry peers and shares his victories from the 2014 oil crash. He successfully slashed costs by 30% back then, and this expertise motivates firms to invest in resilience.

Darren Entwistle

Darren Entwistle is the CEO of TELUS Corporation, a company that is not just surviving but thriving. TELUS is Canada’s telecom giant, bringing everyone high-speed 5G networks and services. With minimal direct U.S. exposure, Entwistle has boosted Canadian infrastructure, investing $2.5 billion in the 5G rollout.

Brad Shaw

Brad Shaw is a Canadian business leader. He was the CEO of Shaw Communications from 2010 to 2023 before it merged with Rogers. He transformed this company from a Western-based cable company to a leading Canadian connectivity company. Shaw’s legacy of customer-first innovation guides Rogers’ $3 billion network upgrade, enhancing domestic connectivity.

Elyse Allan

One of Canada’s strongest businesswomen, Elyse Allan, was the Former CEO of Canadian General Electric. She is now a consultant for various Canadian manufacturers and advises on approaching Trump’s 25% steel tariffs. For instance, she’s advising firms like Stelco to shift exports to Europe, building on her past success in diversification.

Geoff Beattie

Geoff Beattie is a Canadian business leader who began his journey as a lawyer. The former CEO of Woodbridge Company, he also served as the chairman of Maple Leaf Foods from 2019 to 2022. His refusal to be shaken is based on decades of financial prudence, ensuring stability despite economic wars or U.S. tariffs.

Seymour Schulich

Excelling in numerous realms, Seymour Schulich is a Canadian business leader, author, and philanthropist. He is in the Canadian Hall of Fame for his efforts and earned the Order of Canada in 2000. With Trump’s 25% steel and aluminum levies hitting Canada, he’s likely redirecting his stakes to Asian buyers.

Paul Desmarais Jr.

Paul Desmarais Jr. is the chairman of the board of directors of Power Corporation of Canada and is taking on the U.S. tariffs head-on. With years of experience in the industry, he has dogged vitality and redirected many billion-dollar investment bonds. With asset management systems and insurance, he ensures that the tariffs will not wreck Canada.

Brian Porter

Brian Porter, the former president of the Bank of Nova Scotia, advises Canadian banks. Canada’s banks have been resilient during his trade war, and Porter has urged Scotiabank to expand its $2 billion Latin American lending portfolio. With decades of experience as a veteran Canadian banker, his guidance ensures that the banks he advises function efficiently.

Victor Dodig

Victor Dodig is the current CEO of the Canadian Imperial Bank of Commerce, refusing to be shaken by the U.S. trade war. As the trade war commences, he has accelerated CIBC’s $1 billion small-business lending program. From supporting Canadian firms with monetary aid to helping domestic businesses grow, CIBC’s earnings are up by 5% despite the trade war.

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