Tariffs
Tariff Context
The Canada-United States-Mexico Agreement (CUSMA) was broken by President Donald Trump with the implementation of 25% tariff on Canadian goods imported into the U.S. and 10% tariff on energy products, as well as an additional 25% tariff on steel and aluminum products, globally, on top of the 25% specifically on Canadian goods. Canada has imposed counter-tariffs on American goods, and has shared their plan to fight back against these unjustified U.S. tariffs.
What does this mean for our economy?
As the landscape of the U.S. tariffs evolve, 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-U.S. 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.
Edmonton Global, has created a Regional Tariff Impact Hub with real time updates from their Regional Tariff Working Group.
Economists from several of Canada’s leading banking institutions have created a landing pages or documents with information on the ongoing tariff situation:
Federal Support for Canadian Businesses
The government is taking steps to mitigate the impact of these countermeasures on Canadian businesses and workers, including by ensuring that its recently established remission process will consider requests for exceptional relief from these new tariffs.
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
- Canada's response to U.S. tariffs on Canadian goods
- Historical Information on Tariffs in Canada
Contact Us:
 |
Tara de Munnik,
|
 |
Carley Graham,
|