U.S.-Canada trade war: Feb. 24 update
The ongoing trade tensions between the United States and Canada escalated Monday following remarks by President Trump at a press conference.
Read more
Trade turbulence: Can your business weather the tariff storm?
Global trade has entered a volatile new era. With the United States suggesting it will impose tariffs on all imports from Canada and Mexico on March 4, businesses are already feeling the impact. Supply chains are shifting, costs are rising and companies everywhere must carefully consider next steps.
Time to act
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.
Stay informed
Sign up to receive our Insights newsletter to receive the latest updates straight to your inbox.
Subscribe
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.
The introduction of U.S. tariffs will have a significant impact on many Canadian businesses and their workforces. Join us on March 5, 2025 at 12 - 1 p.m. EST for a discussion on how to best navigate these workforce challenges and avoid legal risks.
Trump tariffs and Canadian employment law: Key considerations for employers
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.
Read more
Food for thought when making a “Made in Canada” claim on food and beverage products
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.
Read more
How importers of U.S. goods can minimize the impact of Canadian tariffs
As trade tensions between Canada and the United States escalate, Canadian businesses importing goods from the U.S. face increased costs due to retaliatory tariffs. This article outlines comprehensive strategies to help businesses assess and mitigate the impact of these tariffs.
Read more
How to advertise Canadian products amid trade tensions
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.
Read more
Temporary layoffs in response to Trump tariffs
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.
Read more
Preparing for tariffs: A guide for North American importers and exporters
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
Gowling WLG in the news
As trade tensions evolve, our lawyers remain front and centre in the media, delivering timely, sector-specific insights to help businesses navigate uncertainty.
Canada’s banking sector under international scrutiny: Alana Scotchmer weighs in on the regulatory environment in The Globe and Mail
Speaking recently with The Globe and Mail, Alana Scotchmer provided insight into the forces that constrain new entrants in Canada’s banking sector. The article explores the challenges and opportunities for banking market entry for both Canadian and international applicants.
Canada’s banking sector under international scrutiny: Alana Scotchmer weighs in on the regulatory environment in The Globe and Mail
Speaking recently with The Globe and Mail, Alana Scotchmer provided insight into the forces that constrain new entrants in Canada’s banking sector. The article explores the challenges and opportunities for banking market entry for both Canadian and international applicants.
Canada’s critical minerals, trade and the energy transition: Thomas Timmins weighs in on supply chain risks with BNN Bloomberg
Speaking recently with BNN Bloomberg, Thomas Timmins, leader of Gowling WLG’s Energy Group, discussed Canada’s role in the global critical minerals market amid growing concerns over tariff tensions and supply chain vulnerabilities.
U.S. tariffs on steel and aluminum could drive up costs: Ted Betts weighs in on trade impacts on BNN
Speaking with BNN, Ted Betts, head of Infrastructure & Construction at Gowling WLG, discussed the potential consequences of U.S. tariffs on Canadian steel and aluminum. The interview examines how these trade measures could impact costs and supply chains across North America.
Canada can challenge tariffs—but will it matter? Wendy Wagner weighs in on CTV News
Speaking recently with CTV News, Wendy Wagner, head of International Trade and Customs at Gowling WLG, provided insight into Canada’s legal options for challenging U.S. tariffs.
Tariff troubles? Let’s talk
Don’t let tariffs undermine the success you’ve built. Our team is ready to help you navigate the complexities of cross-border trade, secure critical exclusions and exemptions and protect your bottom line. From reviewing contracts to optimizing your supply chains to advocating with government officials, we’ll ensure you’re positioned to respond decisively to a changing trade landscape.
