US 25% Tariffs to Impact Business in Canada
March 11, 2025 – UPDATE: New Resources, $6.5 billion aid package for Canadian Businesses
Tariff-Specific Financial Support & Assistance
On March 7th, the Government of Canada announced significant funding programs to support Canadian businesses directly impacted by the tariffs.
- $5 billion through Export Development Canada (EDC) for the Trade Impact Program to help exporters reach new markets for Canadian products and to help navigate the economic challenges imposed by the tariffs.
- $1 billion in financing through Farm Credit Canada (FCC) to reduce financial barriers for the Canadian agriculture and food industry.
- $500 million through the Business Development Bank of Canada (BDC) to support businesses directly targeted by tariffs.
- Temporary flexibilities to the EI Work-Sharing Program to increase access and extend agreement durations for business impacted by tariffs.
Tariff-Specific Support & Regulations
- Support from the Trade Commissioner to help exporters with the tariffs
- Tariffs, rules and regulations: Tariff and duty information, sanctions, export and import controls and other rules that affect Canadian traders
- Self-serve resources for problem solving regarding tariffs
- Supporting Canadian exporters through United States tariff challenges
- Process for requesting remission of tariffs that apply on certain goods from the U.S.
Tariff-Related News & Updates
- Stay updated on Canada’s response to the tariffs with ‘Department of Finance News’
Canada’s Response & Trade Relations
Trade & Economic Development
- List of products from the United States subject to 25 per cent tariffs
- Resources to help you grow and scale with Innovation, Science and Economic Development Canada (ISED)
- Global Affairs Canada: Key facts about Canada’s competitiveness for foreign direct investment
General Business Support & Financing
- Canada Small Business Financing Program (CSBFP) helps small businesses get loans by sharing the risk with lenders.
From BDC:
- List of BDC resources to support businesses navigating trade
- Canada Tariff Finder is a tool to help you find countries that have a free trade agreement with Canada
- The impact of potential tariffs: How to get your business ready
Gowling WLG:
- How importers of U.S. goods can minimize the impact of Canadian tariffs
- Tariffs and the cost of building: What’s at stake for Canadian construction and infrastructure
- Navigating Canada’s retaliatory tariffs: Strategies and considerations for U.S. exporters
Export Development Canada (EDC)
BDO
Mondaq
Startup Canada
- The Startup Canada Tariff Toolkit is designed to aid entrepreneurs and support organizations in navigating the complexities of tariffs, and their impact on Canadian businesses.
Made in Canada
- View a comprehensive list of Canadian companies that manufacture their products in Canada. Here you can access the application form to be featured in their list.
February 24, 2025 – UPDATE: Let’s talk about tariffs and the impacts they could have on your business.
Join us for a delicious buffet lunch at Ella’s followed by a presentation and Q&A from Export Navigator’s Michael Hoher, Export Advisor – Kootenay – Boundary Region.
*Topics may fluctuate as the situation evolves
1. Impact Assessment and Financial Planning
-analyzing how tariffs could affect pricing structures, profit margins, and customer relationships
-evaluating your exposure to US markets
-developing contingency plans for various tariff scenarios
-maintaining competitiveness while preserving profitability
2. Supply Chain Diversification Strategies
Canadian businesses importing products from third countries and then exporting to the US face complex tariff implications.
-explore how value-added processing, country of origin rules, and cumulative tariffs work
-diversifying your supply chains and exploring alternate sourcing options to minimize tariff impacts
-leveraging Canada’s existing free trade agreements with other nations.
3. Market Diversification Opportunities
-expanding into alternative markets
-Made-In-Canada product interest
-Canada’s multiple free trade agreements (FTAs) that provide preferential access to numerous international markets
-exploring opportunities in domestic markets or other international regions to reduce dependency on US trade
-understanding market entry requirements, regulatory compliance, cultural considerations and preferred go-to-market strategies in new target markets.
4. Available Support Resources and Programs
Sharing of various support mechanisms available through Export Navigator and other government programs.
This event is generously sponsored by Vantage Point Chartered Professional Accountants.
Registration is open for this great educational opportunity via our Chamber.
February 11, 2025 – UPDATE: Yesterday, President Donald J. Trump signed proclamations to close existing loopholes and exemptions to restore a true 25% tariff on steel and elevate the tariff to 25% on aluminum.
The Cranbrook Chamber of Commerce will work to provide resources to our membership as we navigate the changing trade landscape and the implications to our members’ businesses.
US Tariffs: RESOURCE LIST
Made in Canada
There are many options for MADE IN CANADA badges to download for your use, free of charge.
Check out these badges at Cansumer .
List of Tariff Tools and Resources
BDC: Support for Canadian businesses that export to the US
Understand if You Have to Pay Tariffs
Data on Trade with the US
Canadian Chamber of Commerce Canada – US Trade Tracker
Hotline and Email for Questions
Pacific Customers Brokers (PCB) – 1888.908.6638 or [email protected]
Five Things to Do Now to Prepare Your Business for US Tariffs
From RBC – Small and Medium Businesses
February 5, 2025 – UPDATE: BC Food and Beverage is hosting a webinar on Friday, February 7, 2:00-3:30pm (Mountain Time) that will bring together some of the most influential voices in the Canadian Consumer Packaged Goods (CPG) space to break down the current landscape, share strategic insights, and explain how we can navigate these challenges together.
Businesses will have time to ask questions, share resources and strategies.
February 4, 2025 – UPDATE: The U.S. government announced a 30-day pause on tariffs on February 3, 2025. While details are still unfolding, we want to hear from businesses in Cranbrook and the surrounding area to better understand the potential impacts and prepare accordingly.
Please take a few minutes to fill out the survey below on behalf of your business. Your input will help shape advocacy efforts and support programs in response to these potential changes.
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February 2, 2025 – The recent announcement of a 25% tariff imposed by the United States on Canadian imports, effective February 4, 2025, is a significant development in international trade relations.
Level of Concern
This escalation in trade tensions is concerning due to its potential to disrupt established supply chains and increase costs for businesses and consumers alike. The imposition of tariffs can lead to higher prices for imported goods, affecting various sectors of the economy.
Potential Impacts on Business
- Increased Costs – Businesses that rely on imported materials or products from the U.S. may face higher costs due to the new tariffs.
- Supply Chain Disruptions – The tariffs could cause delays and complications in supply chains, affecting production schedules and delivery times.
- Competitive Disadvantages – Companies may find it challenging to remain competitive if they cannot absorb or pass on the increased costs to consumers.
Information Sought
To navigate this evolving situation, the Cranbrook Chamber of Commerce will be seeking:
- Detailed Tariff Lists – Specific information on which products are subject to the new tariffs to assess direct impacts.
- Government Guidance – Clarification from Canadian authorities on support measures or policy responses to mitigate adverse effects.
- Alternative Sourcing Options – Information on potential alternative suppliers in countries not affected by the tariffs to maintain supply chain stability.
- Legal and Compliance Advice – Resources for guidance on navigating the new trade regulations and understanding compliance requirements.
Stay informed
Our Chamber will be staying informed through official government channels and industry associations.
What can your business do to support these efforts?
Please take five minutes to fill out this short survey. Your feedback will help to paint a picture of Cranbrook’s business community, and help to inform our advocacy efforts.
THIS SURVEY CLOSED WEDNESDAY, FEBRUARY 5 at 11:59pm. Thank you for your submissions.
US Tariffs – Business Impacts
This survey is now closed.