US Tariffs Will Test Canadians' Business Resolve, Not Just Their Revenue

Epoch Times

03-05-2025

Commentary
I remember writing about personal and leadership resilience during the 2008 financial crisis. At the time, it felt like the ultimate stress test. Now, we're facing another defining challenge—this time, the upheaval triggered by U.S. trade tariffs and the growing tensions they've created.
Unlike past economic events that were somewhat predictable, this one blindsided entire industries. Supply chains have been disrupted, key export markets destabilized and Canadian businesses left scrambling in the wake of renewed U.S. tariffs and trade retaliation. While it's not like the global health emergency we recently went through, it is a slow-burning economic one with far-reaching consequences.
It's time to dust off all those strategies for navigating uncertainty. Here are five suggestions to help maintain resilience during this period of volatility and trade disruption.
1. Read the Stoics
I've long found comfort in Stoic philosophy. The Stoics teach us to accept how little we actually control and to mentally prepare for adversity. Marcus Aurelius, Seneca, and, more recently, Ryan Holiday offer timeless frameworks for responding to crises without losing our sense of self.
The Stoic mindset—anticipating setbacks, managing emotions, and focusing on reasoned responses—has helped me stay grounded when policy shocks hit out of the blue.
2. Focus on What Matters
When stress spikes, perspective shrinks. It's easy to panic or get lost in distractions. But now more than ever, clarity is crucial.
What truly matters right now? What are the critical issues you need to address in your business or your life?
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A sales strategy that made sense before may no longer be viable under the new tariffs. It might be time to revisit your export plans or sourcing model. At home, it could mean more conversations with your family about how global trade affects your livelihood.
This is the moment to cut the clutter and double down on what really counts.
3. Focus on What You Can Control
It's tempting to fixate on what governments or foreign officials will do next. But unless you're at the negotiation table, you can't control that. What you can control is your response.
As Viktor Frankl famously said, we always have the freedom to choose our attitude. Are you going to get stuck in frustration, or are you going to adapt and lead?
Ask yourself: What can I do right now that's useful or constructive? Maybe it's time to explore new markets, reduce dependencies or deepen client relationships. Even small, purposeful actions can create momentum.
4. Strive for a Sense of Well-Being
Resilience isn't just about powering through—it's also about protecting your well-being. Economic uncertainty can breed anxiety, but worry alone won't change outcomes.
Well-being comes from maintaining structure, nurturing relationships, and finding purpose. Make space for moments of joy, calm, and connection. They're not indulgences; they're essentials.
Don't lose your humanity—or your leadership focus—under the weight of uncertainty.
5. Stay Busy—but Choose Wisely
When external forces feel overwhelming, productivity becomes a powerful way to reclaim a sense of control. Instead of falling into the bottomless pit of analysis and speculation, shift your energy to something tangible.
Clean up your books. Reconnect with old clients. Launch that idea you've been sitting on. Focus on what builds capacity, not just what fills time.
When the dust settles—and it will—those who stayed proactive will be in a stronger position to recover and grow.
Every crisis is a training ground for the next one. Tariffs fade. Governments change. But uncertainty is here to stay. If we use these disruptions to sharpen our ability to adapt, focus and lead under pressure, we come out stronger—personally and professionally—on the other side.
Rebecca Schalm, Ph.D., is founder and CEO of Strategic Talent Advisors Inc., a consultancy that provides organizations with advice and talent management solutions.
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Views expressed in this article are opinions of the author and do not necessarily reflect the views of The Epoch Times.