As the details of Trump’s plan come into focus, businesses on both sides of the border must take steps now to identify their exposure to risk and test the endurance of their business continuity strategies.
Not sure where to begin? We recommend focusing on the critical areas below as a matter of priority.
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Understand your product’s classification and origin Identify what goods your business trades cross border between the U.S. and Canada. Determine how these goods are classified from a tariff perspective, their value, and their country of origin.
Clarify importer responsibilities and liabilities Determine who the importer is and who is contractually liable to pay the tariffs. Review existing contracts to understand if liability-sharing provisions are in place or if they can be negotiated to mitigate financial risks.
Assess stockpiling and alternative sourcing options Evaluate whether it is feasible to stockpile products before tariffs take effect or explore sourcing goods from other markets or suppliers to avoid or minimize tariff exposure.
Engage in advocacy Coordinate with industry partners to highlight the economic impact of tariffs to Canadian government officials, explaining why certain products should be excluded from retaliation lists or prioritized for later rounds.
Explore tax implications and deductions Tariffs on imported goods may be tax-deductible in some cases, making tax planning essential to your tariff-response strategy. Tariffs may also be included in expenses that qualify for other tax credits, such as scientific research and experimental development credits or manufacturing tax credits.
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With tariff uncertainty reshaping global trade, protecting intellectual property has never been more important. By identifying key IP assets, securing patents abroad, and taking advantage of international trademark systems, Canadian businesses can better position themselves for long-term success.
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In a move that stunned many Canadians, the tariff threats materialized on March 4, 2025, with the implementation of a 10% tariff on all Canadian energy imports and a blanket 25% tariff on all other Canadian goods entering the United States.
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While the U.S. tariffs on Canadian goods promise to significantly impact organizations importing goods into the United States, Canada's expected retaliatory response will be no less consequential for organizations exporting goods from the U.S. into Canada.
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How will U.S. tariffs affect your workforce? From compensation changes to potential layoffs, Canadian employers must plan carefully to avoid legal risks. Get ahead of the challenges by understanding the key employment law considerations that must shape your response.
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As Canadian businesses look to highlight their products' local roots, we break down the key regulations surrounding these claims and how to avoid misleading consumers.
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From understanding "Made in Canada" vs. "Product of Canada" to navigating regional claims, national symbols and third-party certifications, here's what you need to know before making a Canadian origin claim.
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Businesses affected by incoming tariffs will need to react to the change in circumstances to ensure their continued viability and success. For those considering temporary layoffs, we discuss the legal implications and consequences in our new article.
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This guide identifies the primary risks posed by the proposed tariffs and outlines practical strategies and proactive measures organizations can take to prepare for the potential changes ahead.
Explore our recent guide
As trade tensions evolve, our lawyers remain front and centre in the media, delivering timely, sector-specific insights to help businesses navigate uncertainty.
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