Canadian exporters of low-value goods to the U.S. face new uncertainty as changes to the American de minimis exemption threaten to raise costs and reduce cross-border competitiveness.
Canadian exporters of low-value goods to the U.S. face new uncertainty as changes to the American de minimis exemption threaten to raise costs and reduce cross-border competitiveness.
Tariffs, or taxes imposed on imported goods, can have a significant impact on small to medium-sized businesses (SMBs) by raising production costs and disrupting supply chains.
There are two main types of tariffs: ad valorem and specific tariffs. Ad valorem tariffs are calculated as a percentage of the item's value (e.g., a 10% tax on the import price).
Tariffs can have significant implications. While they may benefit specific domestic industries, they can also increase costs for consumers and businesses relying on imported goods.
Meanwhile, the energy sector, particularly in natural gas, is set for exponential growth, especially as the world shifts focus toward cleaner and more efficient energy sources.
