The United States has dropped the gloves and declared economic war. The impact of this trade war and tariffs is already being felt. But, what can Canadian business owners, real estate investors and medical professionals do to manage through the turmoil being generated by the United States government. I have gathered a handful of resources below, and will continue to add to them, that I hope you will find helpful. Please feel free to reach out if you need more specific help, and I can connect you with the people and resources you will need.
Register: Webinar on trade war and tariffs
Join BDO Canada’s webinar, “Tariffs & Trade in Focus: Understanding the Economic Landscape,” on Thursday, March 20, from 1 to 2 p.m. EST.
Resources: Trade war and tariffs
- Tariffs, trade and global tensions impacting Canadian real estate – What is the impact of this economic environment on real estate and real estate investment and development in Canada?
- Tariff readiness: Preparing leaders for disruption – A hub of information, including links to various tariff and trade articles and contacts, from BDO Canada.
- Canada’s response to U.S. tariffs: Key impacts and business considerations – A recent article outlining the response by Canada to the trade war tariffs. These are changing rapidly so updates are to be expected regularly.
How do you take back some control during this trade war and tariffs?
Feeling betrayed? Powerless? Scared? Frustrated? Time to start to take back some control. But what are the small things you can do?
Things many Canadians are doing to take back some of that control are:
- Reducing or eliminating travel to the U.S. except for essential trips
- Looking for non-U.S. goods and services. The benefit of free trade and an integrated economy means it is unlikely we have zero U.S. goods and services but you likely reduce significantly.
- Leaving a message (email, mail, phone) with all levels of government representatives, from Municipal to Provincial to Federal, letting them know you’re looking for real action, not more talking. We still don’t have interprovincial free trade, and no province has yet matched Nova Scotia’s offer. Get rid of exceptions and protectionist policies within in Canada.
- Showing their support by flying a Canadian flag.
#ElbowsUp
More questions?
Still have questions about the year-end tax planning checklist? I want to help you Do wonderful things®, so please contact me today.
Remember – circumstances are unique! This information is summary in nature. Seek out advice from your tax advisor about your specific situation.
