Looking at developments and trends from 2024, many sectors of
the retail industry remain in flux and continue to be buffeted by
various challenges and headwinds, including the threat of a very
different tariff landscape, increased regulations across the board,
persistent supply chain hurdles and decreased consumer confidence.
Volatility is the new normal. In this year-end bulletin, we provide
an overview of key areas and industry topics that are keeping our
retail clients busy.
Indirect Taxation and Tariffs
Retailers who import goods into Canada are facing significant
uncertainty and headwinds at the end of 2024. In recent weeks, the
U.S. President-elect, Donald Trump, has threatened to impose 25%
tariffs on all exported Canadian goods. The Canadian government has
suggested that it would retaliate with similar measures. Given the
retaliatory nature of trade measures, retailers and retail
consumers in 2025 could expect to see higher prices for imported
goods and
