Description

Michael Hoher from Export Navigator is joining us for a Lunch & Learn presentation on navigating the challenges and opportunities of international trade in light of potential U.S. tariffs. He’ll cover key strategies for businesses, including assessing financial impacts, diversifying supply chains, exploring new markets, and leveraging available support programs. Join us to gain valuable insights on maintaining competitiveness and adapting to the evolving trade landscape.

Lunch will be provided.

General Overview:

1. Impact Assessment and Financial Planning

Understanding the direct effects on business operations of (potential) US tariffs on Canada and its trading partners is crucial. This includes analyzing how tariffs could affect pricing structures, profit margins, and customer relationships. Companies are advised to evaluate their exposure to US markets and develop contingency plans for various tariff scenarios. The focus should be on 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. At a high level we explore how value-added processing, country of origin rules, and cumulative tariffs work. Companies should consider diversifying their supply chains and exploring alternate sourcing options to minimize tariff impacts. This may include leveraging Canada's existing free trade agreements with other nations.

3. Market Diversification Opportunities

While the US remains Canada's largest trading partner, businesses should consider expanding into alternative markets. Canada's domestic market has seen a significant rise in Made-In-Canada product interest. Alternatively, Canada’s multiple free trade agreements (FTAs) provide preferential access to numerous international markets. Companies can explore opportunities in domestic markets or other international regions to reduce dependency on US trade. This includes 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.