Uncertainty of Tariffs for Canadian exporters and US importers

By August 1, the U.S. is set to impose a 35 percent tariff on all Canadian goods and up to 30 percent on European Union automotive imports—measures that follow earlier levies on steel, aluminum, and auto parts. Yet with most shipments already moved into U.S. ports by July 10, these new deadlines may have limited immediate impact. Still, they’ve driven hefty write‑downs for several manufacturers in the US and prompted exporters to accelerate deliveries. 

The bigger question: will August 1 be the final tariff trigger, or might rates shift again? In any case, the added uncertainty and cost pressure are expected to depress import volumes moving forward, as shippers and buyers adjust to a more volatile trade environment.  Canaan continues to monitor daily and weekly fluctuations in transportation costs. Please contact us sales@canaangroup.ca