Tariffs
Explore and discuss the impact of U.S. tariffs on Canadian goods. Gain insights, connect with other businesses and local dignitaries to discover strategies that can keep your business strong and competitive.
March 21, 2025
7:00 - 9:00 a.m.
Business Entrepreneurship Centre – 606 18 Ave, Nisku, AB
On Saturday February 1, 2025, President Trump signed an Executive Order imposing a 25% tariff on Canadian goods imported into the U.S. and a 10% tariff on energy products.
In response, Canada’s federal government countered with a plan for 25% tariff on $155 billion worth of U.S. exports coming into Canada (this page also has a list of relevant quick facts). Alberta Premier Danielle Smith also responded to the 10% tariff on Canadian oil.
Late on February 3, 2025, Prime Minister Justin Trudeau and President Donald Trump came to an agreement and paused the implementation of tariffs for 30 days.
What does this mean for our economy?
The threat of U.S tariff changes, and the erosion of our relationship with our greatest trade partner, has the potential to be very damaging to the Canadian economy and to our community. A tariff war would disrupt Canada-US business operations, erode the competitiveness of North American industries, increase consumer prices, cost businesses billions, and result in job losses for thousands of workers on both sides of the border.
Chief Economists from RBC have pulled together a playbook for how to measure a tariff shock in Canada and ATB Financial’s “The Twenty-Four” has provided a write-up on the potential implications for Alberta's economy. The forecasts could include decreased GDP, increased inflation, increased unemployment, increases in price levels, and depreciation of the Canadian dollar.
Latest Developments:
- February 11, 2025: U.S. announces 25% tariffs on Canadian steel and aluminum imports starting March 12 (stacked on other 25% tariffs).
- February 13, 2025: U.S President rolls out plan to increase reciprocal tariffs to match tax rates that other countries charge on imports.
- March 3, 2025: Trump confirms he will impose 25% tariff on Canadian goods Tuesday.
What’s next?
- March 4, 2025 is the end of the agreed upon pause on implemented tariffs.
- March 12, 2025 is the start of the 25% tariffs on Canadian steel and aluminum imports to the U.S.
We're here to help
If your business is affected by U.S. tariffs, it is important to stay informed and prepared. You will need the right information and strategies to navigate trade barriers effectively. You will need to:
- Understand applicable tariffs
- Assess the financial impact on your business
- Explore trade agreement benefits and exemptions
- Optimize supply chain and sourcing strategies
- Access government support and financial assistance
- Stay updated and engage in advocacy
Resources
This resource guide developed by Startup Canada is designed to help entrepreneurs and support organizations navigate the complexities of tariffs and their impact on Canadian businesses. It provides a comprehensive overview of support organizations, tariff regulations, how they affect supply chains and pricing, and strategies for mitigating risks, and further international expansion. This resource guide is being updated in real time.
Additional Resources
- BDC - Marketing, sales and export
- Canada Tariff Finder
- Canadian Chamber of Commerce Trade Tracker
- Canadian Intellectual Property Office
- Canadian Manufacturers Exporters
- Export Development Canada (EDC)
- Excellence in Manufacturing Consortium
- OEC – World Trade Tariffs Simulator
- Trade Commissioner Service
Contact Us:
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Tara de Munnik,
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Carley Graham,
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