The new U.S. administration is considering imposing a 25% tariff on all products entering the U.S. from Canada and Mexico, which could disrupt trade, raise costs, and affect the competitiveness of Canadian goods. If implemented, the Canadian government has vowed to defend its interests and protect the economy.
The potential tariffs won’t just impact businesses directly trading with the U.S.; companies in complex supply chains or those supplying exporters could also be affected. Additionally, tariffs may complicate the import of goods from China or Mexico that pass through the U.S.
To help Canadian exporters navigate these issues, a list of frequently asked questions has been compiled to clarify potential impacts on the economy.