Today, our host, Bob explores how tariffs impact businesses, especially in the Canada-US trade relationship. A 25% tariff could mean higher costs, supply chain disruptions, and tough pricing decisions. Bob explains what every business owner should know—who tariffs affect, how to negotiate with suppliers, and ways to adapt. Using insights from the RBC economic report, he also highlights the risk of a recession and its broader impact. Don’t let tariffs catch you off guard. Tune in, stay informed, and share this episode with fellow entrepreneurs. Let’s navigate these changes together! 🎧🚀         Episode Highlights: 00:00 Welcome to The Wealthy Entrepreneur Podcast 00:27 Impact of Tariffs on Business and Economy 03:17 Understanding Tariffs and Their Implications 07:23 Top Five Elements of Tariffs 10:28 Strategies for Adapting to Tariffs 15:58 Economic Impact of Tariffs       Resources: Visit the The Wealthy Entrepreneur Website: https://www.wealthyentrepreneur.co/  Download The Wealthy Entrepreneur (digital book) for FREE: https://profitsimple.ca/wealthy-entrepreneur Like our Facebook Page at https://www.facebook.com/wealthyentrepreneurofficial Join The Wealthy Entrepreneur Community for FREE at https://www.facebook.com/groups/gauvreaucpa  For more podcast episodes, subscribe to our Youtube Channel at https://www.youtube.com/@wealthyentrepreneurofficial. Let’s continue to work on becoming a Wealthy Entrepreneur!See omnystudio.com/listener for privacy information.