Industry insiders say companies are opting to wait and see as the clock ticks down on U.S. President Donald Trump’s latest tariff deadline, rather than rushing shipments across the border to beat the buzzer.
A new round of 50 per cent tariffs on nearly US$20 billion worth of Canadian goods ranging from dairy to down jackets is set to take effect Aug. 19.
Unlike most of Trump’s other tariffs, the duties would not exempt goods that comply with the Canada-U.S.-Mexico trade agreement, widely known as CUSMA.
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Nonetheless, Janine Harker, who heads the Canadian Society of Customs Brokers, says business owners have avoided front-loading their shipments and settled into a posture of “watchful waiting.”
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Businesses are anxiously waiting to see whether the president will live up to his perceived proclivity for bluffing or backing down on his tariff promises, which has given way to the acronym known as TACO (Trump Always Chickens Out).
Last summer, retailers and exporters across the globe rushed to beat U.S. tariff deadlines, but experts say Canadian shippers now appear more desensitized to the trade tumult, while preparing for the worst by assessing the potential financial toll.
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