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ARTICLE · 07 FEBRUARY 2025

Trump Tariffs: Cost Impacts For Project Agreements

Torys
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Torys' Canadian and New York offices will be providing regular briefs on the legal ramifications of the proposed tariffs and other cross-border policy developments on the horizon.

GlobalInternational Law
Mark Bain
Mark Bain
Erica R. S. Goldman
Erica R. S. Goldman
Josh Van Deurzen
Josh Van Deurzen
Shalom Cumbo-Steinmetz
Shalom Cumbo-Steinmetz
Christopher Caparelli
Christopher Caparelli
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Torys' Canadian and New York offices will be providing regular briefs on the legal ramifications of the proposed tariffs and other cross-border policy developments on the horizon.

How would U.S. tariffs impact projects being built in Canada?

Canadian projects will generally incorporate goods and services that originate both in Canada and the United States. The biggest direct impact that U.S. tariffs will have on Canadian projects will not come from U.S. tariffs themselves, but rather Canadian retaliatory tariffs that may be imposed. If Canada imposes retaliatory tariffs, Canadian projects that incorporate those goods and services will be impacted. Short-term impacts will include increased costs—and in some cases, supply chains may be disrupted, which may result in delays.

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