08:08 AM EST, 02/04/2025 (MT Newswires) -- Monday's announcement of a pause in the use of tariffs in Canada-United States trade is a welcome relief for small businesses, said the Canadian Federation of Independent Business (CFIB).

However, as the threat of tariffs continues to loom, the ongoing uncertainty will make it challenging for small business owners to plan and make decisions around their operations, noted CFIB.

While Canada catches its breath and implements the border measures, CFIB stated it can't afford to take its eyes off the many other critical changes needed to prepare for the future.

This means Canada needs to seize the opportunity now to bring in policies that improve its investment climate, reduce taxes, slash red tape and break down internal trade barriers to ensure businesses are prepared no matter what external threats comes along, it added.