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ARTICLE · 27 JANUARY 2025

Trump Tariffs - Preparation Is Key

Millar Kreklewetz
Explore more from Millar Kreklewetz

While Canada was given a short reprieve yesterday from the tariffs threatened by US President, Donald J. Trump, President Trump appears to have doubled-down signalling that these 25% tariffs will be coming by February 1.

CanadaInternational Law
Robert Kreklewetz
Robert Kreklewetz
Caroline Mcphail
Caroline Mcphail

While Canada was given a short reprieve yesterday from the tariffs threatened by US President, Donald J. Trump, President Trump appears to have doubled-down signalling that these 25% tariffs will be coming by February 1. If this is to be believed, the days of US and Canadian weighted average tariffs in the 2.2-3.4% range are over, and Canadian businesses need to begin preparing for the challenges these sorts of significant tariffs will bring – including the likelihood of Canadian retaliatory measures, which we reported on here.

In this Report will review basic preparation steps for "right now".

Contract Review

Purchasers and sellers engaged in the international trade in goods will be impacted by tariffs no matter which side imposes them and should take the time to review sales and transportation contracts to ensure these tariffs are planned for in the pricing of the goods. Attention should be paid to how contracts address price, and the expected impact of

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