Prime Minister Justin Trudeau met with President Donald Trump on Monday, announcing that 25 per cent tariffs supposed to be imposed on Tuesday for all Canadian goods have now been paused.
This means Canada's counter-tariffs are also on hold until at least the end of February.
Despite the announcement, businesses in Strathmore are still feeling the heat.
"Thankfully a lot of products I bring in come from Indonesia or from China, some Canadian. But a lot of times I sell guitar strings, as far as I'm aware there's no manufacturer of guitar strings in Canada," said Daniel Wiewel, owner of MaxSPL Music.
"I fully expect certain products that a lot of my customers use every day could have a major increase."
According to Wiewel, he's talked to Strathmore residents about the potential tariffs.
"The trouble is that a lot of people don't understand how tariffs work and if they will affect them or not."
The music store has been open for seven years and Wiewel told StrathmoreNow that they've had continual growth up until this past year.
"Lots of people have a lot less disposable income and even if they have disposable income, they're worried that with things like this looming they need to be hanging onto it just in case."
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Denise Geremia, owner of Lil Hoots Children's Boutique stressed the importance of shopping local as the tariff threat looms.
"If you go to a small business and they have brands that aren't George brand or stuff from big companies, and things that are made here in Canada, you're supporting the local business."
Geremia added that she sells products from companies out of Montreal and Vancouver and tries to only support Canadian companies.
"It's the little guys that are just going to keep trying to fight for you guys and try to get you to support us over supporting Amazon and all these other conglomerates."
Geremia mentioned that the potential tariffs could affect her products. However, she's opting to go Canadian.
"If I'm getting it from a wholesaler who brings in a brand that is from the United States, I'm just going to choose not to bring in that brand."
Bow River MP Martin Shields who serves the Strathmore area said that the cattle industry will be hit hard if tariffs are brought in.
"We have a lot of livestock people who are not sure what's going to happen with the moving of live animals or the processing of the animals that occurs from the packing plant across the border."
For now, Strathmore businesses will watch and listen until the end of the month when a tariff decision has to be made.