Do students need to worry about tariffs?
In recent weeks, tariffs and the looming threat of a trade war with the United States have dominated news headlines. Tariffs enacted Tuesday raised Canadian import costs by 25%, fueling economic uncertainty and straining both economies as Canada — the United States largest export market for goods — faces rising prices, declining job opportunities, and market instability.
At the University of Ottawa, students face unique financial challenges. Many are navigating precarious economic situations where the rising cost of living, coupled with student bills and debt, remains a pressing concern.
On-campus accommodations are expensive, with the 2024-2025 academic year prices on-campus living ranging from $8,258 to $24,189. Off-campus students fare no better, as Ottawa’s average rent ranked 12th highest in the national rent ranking of February 2025.
Beyond housing, the rising cost of living in Ontario leaves students to contend with increasing costs of groceries, gas, textbooks, and essential winter clothing — important necessities to student budgets.
The proposed tariffs threaten to drive these costs even higher — an alarming prospect given that affordability is already a major source of anxiety for many students.
Student Perspectives: Frustration, Uncertainty, and Fear
Interviews with University of Ottawa students highlight shared concerns over the economic uncertainty ahead. Calum Webber-Smith, a third-year international studies and modern languages student, works as a student consultant on agriculture and trade at the Mexican Embassy through the U of O’s CSL program. He underscores the instability felt by both students and the international community.
“Both Canada and Mexico are incredibly frustrated,” Webber-Smith explains. “As a job environment, it doesn’t make it nice.” He also fears a return to post-COVID-19 economic conditions, where “going to the grocery store is miserable again.”
Similarly, Hayden Woytowicz, a third-year U of O finance student employed at Global Affairs Canada, points to the inevitable financial strain students will face. “Essentials such as groceries, rent payments, and university expenses are all likely to increase,” Woytowicz says. “Students across the country will have to face the harsh reality that the cost of living will unfortunately increase.”
Beyond immediate costs, students worry about the long-term impacts on Canada-US relations. Weber-Smith expresses this frustration, noting that, “even the threat of these tariffs makes me not want to buy from [US] companies anymore.”
Woytowicz shares similar concerns, fearful that economic tensions could extend beyond trade. “We could see a regression in many important areas of Canada, such as political, technological, and environmental progress,” he adds.
Expert insight: A Difficult Period Ahead
Assistant professor and consumer culture expert, Myriam Brouard, from U of O’s Telfer School of Business Management validates student concerns, stating, “the next little while, because of all the uncertainty, is going to be a tough time financially for most.”
Brouard also notes the rise of a “nationalist sentiment” in Canada as consumers look to support locally made goods in response to economic tensions. However, she acknowledges that this shift isn’t feasible for everyone — particularly students.
“It’s a privilege to say ‘I’m just going to consume locally’,” she explains. “There are costs associated with that. For students, it’s about making choices that make sense within their budgets. This isn’t on them — they’re not responsible for this situation. Any little effort they can make to support local businesses is great, but it shouldn’t come at the cost of their financial well-being.”
Looking Ahead
As uncertain economic tensions between the US and Canada unfold, students will be tasked with navigating a range of financial challenges. Whether it be increased tuition, rent, everyday expenses, or combinations of all three, the impact of these tariffs will be deeply felt.
“Being financially savvy will be something that’s very important,” Brouard notes.
However, she emphasizes that this is easier said than done, adding, “There are no quick tricks or financial instruments” to completely shield students from the challenges ahead.
Despite the hardship, this period is showcasing Canadian innovation. For example, in 2018, Made in CA launched a platform to promote consuming Canadian products and services. The site has recently seen a surge in website traffic as consumers seek locally made alternatives in light of tariff threats.
Additionally, the provincial election in Ontario, the 2025 Liberal Leadership race, and the possibility of an early federal election provide an opportunity for students to make their votes count. While this economic landscape remains uncertain, students also have an important role to play in shaping Canada’s response to these precarious circumstances.
“But I do have faith,” Brouard adds. “I think we are very resilient, and I think young people especially are extremely resilient and resourceful and will definitely make it through.”
