Sabrina A. Bandali speaks with Law.Com on what US President-elect Donald Trump’s threat to impose 25 percent tariffs on all Canadian and Mexican imports as soon as he takes office could mean for trade.
While it’s not clear the incoming US president will impose blanket tariffs on all imports, Sabrina says that no matter what happens, the next four years are likely to be volatile for business and they should be prepared.
Trump has made it clear that he is focused on clamping down on Chinese imports in order to staunch the flow of chemicals used to make fentanyl.
Mapping supply chains so businesses know where and who their inputs are coming from is key to both complying with Canada’s supply chains act but also to avoid potential exposure on the US side, says Sabrina.
Reviewing contracts to know who’s responsible if there are customs detentions or other trade risks is also important, she says.
