Experts in the horse racing industry are concerned that President Trump’s tariffs will have a devastating impact on their livelihood, potentially leading to the industry folding. The horse industry in Ontario alone represents 25,000 jobs and has an economic impact of up to $2 billion.

The tariffs could significantly increase costs for horse breeders and owners, with the stud fee for the fastest harness racing horse in history potentially doubling. Last year, Ontario sold $12 million worth of horses to American race tracks, highlighting the importance of the US market for the industry.

Despite the challenges posed by the tariffs, industry professionals like James Culic are preparing for the worst while hoping for the best as the April 2 deadline approaches. The impact of the tariffs on the horse racing industry could be significant, affecting jobs, economic activity, and the ability of farms and race tracks to continue operating.