Editor's Note: This story was written prior to the late afternoon announcement that tariffs are being paused for 30 days.
With 25 per cent tariffs being imposed on Canadian goods in the U.S. coming into effect February 4, businesses across Midwestern Ontario and beyond are bracing for some hard economic impacts.
Colin Carmichael, Executive Director of the Huron County Chamber of Commerce, says these tariffs imposed by Donald Trump are going to put businesses and manufacturers here at a significant disadvantage.
"For anyone that currently exports to the United States, they'll be at a real disadvantage. For some of our manufacturers, that's as much as or more than 50 per cent of what they produce, it goes to the United States. So all of that now becomes 25 per cent more expensive for their customers, and it makes it tougher to be competitive in the marketplace," Carmichael explained.
Carmichael says the chamber has already heard of incoming layoffs at some local manufacturers as the tariffs become a reality, and if the tariffs last for a while, the damage could be very dire.
"As business to the United States begins to dry up, that will almost certainly result in layoffs among that manufacturing workforce, and that will then have an impact on other businesses in the county, whether that's our retailers or our restaurants. Those kinds of businesses will see the impact, as well," said Carmichael.
The Huron Chamber of Commerce is joining other chambers, including the provincial one, in calling for a dismantling of interprovincial trade barriers in Canada.
Carmichael explains that there are still barriers in Canada that make trading difficult within our own country and actually make it easier to trade with the United States. So, at times like these, Carmichael says it would be beneficial to everyone to not have that be the status quo.
"What the Ontario Chamber of Commerce and our other provincial chambers are calling on is for each of the provinces to reduce those trade barriers, so we can encourage trade that is East-West instead of North-South, if that North-South path is going to be eliminated for us," Carmichael stated.
Additionally, Carmichael says we can all help by trying to buy from and support local businesses and local products as much as possible.
"As we have done many times, in Huron County, when we face difficulties, whether that was a pandemic or other difficulties, we just want to encourage everyone to support your local businesses, help them get through this. The county has a history of pulling together and I'm sure we'll see that again," Carmichael emphasized.
For more information, including a survey available for Huron County businesses, click here.