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ARTICLE · 24 FEBRUARY 2025

President Trump's Tariffs: Staying Competitive By Shedding Unwanted Contracts

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Canadian companies that expect to experience financial distress as a result of tariffs should begin planning now, with those Canadian businesses that are able to move quickly...

GlobalCorporate/Commercial Law
Adam Slavens
Adam Slavens
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Torys' Canadian and New York offices will be providing regular briefs on the legal ramifications of the tariffs and other cross-border policy developments on the horizon.

Canadian companies that expect to experience financial distress as a result of tariffs should begin planning now, with those Canadian businesses that are able to move quickly and nimbly being best positioned to withstand the impact of tariffs. On the heels of President Trump's announcement on February 10, the Canadian steel and aluminum industries may be the first to feel the effects of 25% tariffs starting on March 12. The reprieve for other industries does not appear to be permanent, with further tariffs looming as distinct possibilities in the near future.

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