Business executives are planning ahead for potential tariffs from Washington by building up inventory across the border and looking at other markets
Commercial trucks heading to the U.S. border from Windsor, Ont. Business leaders are planning for operational changes in the event of heavy tariffs imposed by incoming president Donald Trump.President-elect Donald Trump has said tariffs are “the greatest thing ever invented” and the best way to “max out” America’s economic power in the face of people and countries raiding U.S. wealth.
Business leaders here are keeping cool in the face of the threat. But they’re not waiting around to see what actions Washington will take. “It’s hard to plan for something that feels a little bit surreal,” Mr. Goyette said. “But you have to take the threat seriously.” The fallout from a nightmare scenario of 25-per-cent tariffs would be softened by the exchange rate and limit any layoffs he might have to do, Mr. Whitney said. But any countermeasures Canada initiates, particularly on steel and aluminum, would also raise his costs for materials.
“This uncertainty is going to add questions in our customers’ minds as to whether they should source in Canada or not,” said Mr. Borm. “I think we’re going to see fundamentally a decline in new business.”
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