Trade in transition
North American trade is no longer business as usual. Tariffs, retaliatory measures, shifting procurement rules, and the ongoing review of CUSMA have created new risk and uncertainty for businesses with cross-border operations, supply chains, customers, or investments.
For organizations on both sides of the border, the challenge is not simply determining whether a tariff applies today. It is building enough flexibility into contracts, pricing, sourcing, customs documentation, and business planning to respond as trade rules continue to change.
Practical insights for a changing trade landscape
As the trade landscape continues to shift, Gowling WLG is here to help you understand what has changed, what it means, and what to do next. This topic hub brings together our latest insights on tariffs, customs compliance, CUSMA, procurement, supply chains, contracts, and related business risks.
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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.
Featured insights
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.
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