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The US could be the only country to experience a drop in foreign travel spending this year: Tariffs, uncertain travel policies, and a boycott by Canadian and Mexican travelers may cost the economy $12.5 billion.

The news: Ninety-four percent of marketers and agency execs are concerned about the impact of President Donald Trump鈥檚 tariffs on Canada, Mexico, China, and the EU, per IAB research鈥攊ncluding 57% who are 鈥渆xtremely concerned鈥� about the impact of tariffs. Almost half (45%) of advertisers are planning on reducing overall ad spend.

Media habits in Canada have changed, favoring digital across all formats. The GMI report for Canada is a single source for quantifying the pace of change in time spent with media, media adoption, and device ownership.

Note that GWI interviews and represents each country's online population ages 16+ (in Canada, Hong Kong, Japan, Israel, Singapore, the UK, and the US) or ages 16-64 (in other markets)鈥攏ot its total population.

Here are five charts on the size of and outlook for the B2B digital ad market worldwide and in 13 individual countries.

Canada ranks near the top of the list of countries for average daily time spent with media, with digital formats driving consumption to new levels.

The news: TikTok is facing unprecedented global regulatory challenges, notably in Canada, Australia, and the United States. The Canadian government ordered ByteDance to shut down its Canadian subsidiary, citing national security concerns. However, the TikTok app鈥攚hich has 10 million users in Canada, per our forecast鈥攊s still accessible in Canada.

A trade war with the US will hinder economic performance in Canada this year. Ad spending overall is expected to lose the momentum gained in 2024. But many digital formats will benefit from the emphasis on return on ad spending.

Our latest forecast for social network users in Canada highlights a reshuffling of the top five platforms in 2023. Twitter will fall to fifth place, while TikTok will surge into the No. 3 position.

Even relative to a neighboring country like Canada, it's like an hour more per day spending time with TV in the US than it would be in Canada. And that gap, especially if you compare that US number of TV consumption to other regions, that gap gets even larger. So it's a finding that we see every year. It speaks to the variety of content that's available to US consumers. And you know what?

In terms of channels, social media will be hit especially hard: 41% of respondents to the IAB survey expected tariff-related budget cuts to it. Gaming and linear TV (each cited by 24% of respondents) round out the top four most affected channels. Here are two examples of how tariffs could ultimately impact ad spending:.