How to Navigate U.S.-Canada Tariffs (ft. BDC’s Director of Economic Research)
Trade policies and tariffs can be overwhelming, but they have a real impact on your bottom line. BDC’s Director of Economic Research, Arnaud Franco, breaks down exactly what small businesses need to know to navigate U.S.-Canada trade with confidence.
Description Key takeaways
About this episode
Arnaud walks us through why tariffs exist, how they impact different industries, and what compliance really looks like. Plus, he shares practical strategies for managing inventory, optimizing supply chains, and running daily operations more smoothly.
Whether you’re running your first small business or looking to refine your operations, this episode of the Secret Life of Inventory is packed with actionable insights to help you make smarter, more informed decisions in today’s economic landscape.
Key Takeaways
- Understand trade agreements: Business owners should familiarize themselves with paperwork compliance under trade agreements like the USMCA, CUSMA, or T-MEC—all of which refer to the United States–Mexico–Canada Agreement. Proper documentation ensures compliance and helps avoid unexpected costs or delays.
- Hire cross-border professionals: Leveraging expertise from accountants, customs brokers, or consultants familiar with international trade can help businesses navigate regulations more efficiently and reduce the risk of costly errors.
- Share the tariff burden strategically: While tariffs are typically passed on to customers, business owners can adjust pricing to balance the cost between themselves and their customers, creating a more sustainable and competitive pricing structure.
- Plan across time horizons: Businesses should think about their short, medium, and long-term strategies when navigating trade policies and tariffs. This forward-looking approach helps them stay adaptable as economic conditions and trade regulations evolve.
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