Dear Members,
The tariff dispute between Canada and the United States places our business community in an unfortunate and challenging position. As history has shown, no one truly wins in a tariff war. The ripple effects of increased costs, disrupted supply chains, and economic uncertainty are felt at every level, from small businesses to large industries.
It’s critical that all levels of government in Canada present a unified approach and a strategic response to these tariffs. A coordinated effort helps ensure that businesses have support and that our economic landscape remains resilient. Additionally, the Federal Government has pledged direct support to businesses. We will strongly advocate for funds from reciprocal tariffs to be reinvested directly into the industries and businesses most affected.
How the Central York Chamber is Taking Action
Over the coming weeks, the Central York Chamber of Commerce will take a multi-faceted approach to support our members:
Keeping You Informed – Look for timely updates on policy changes, trade negotiations, and government relief programs to ensure you have the latest information to make informed business decisions.
Advocating for Our Business Community – We will actively voice your concerns to government officials at all levels to ensure decision-makers understand the direct impact on local businesses. Your experiences and challenges will be at the forefront of our advocacy efforts.
Promoting Shop Local Initiatives – We will amplify shop local campaigns to encourage consumers and businesses alike to keep spending within our community.
Reducing Interprovincial Trade Barriers – We will continue to lobby for the removal of trade barriers between provinces to create more opportunities for businesses to expand and source products within Canada.
Encouraging Domestic Manufacturing and Supply Chain Solutions – To mitigate the risks of future tariff battles, we will advocate for increased domestic production and diversified supply chains. Investing in homegrown manufacturing and supply networks will bolster long-term economic stability.
Key Tips for Businesses to Navigate Tariff Challenges
In the face of these economic challenges, we encourage businesses to take proactive measures to minimize risk and explore new opportunities. Here are some key steps to consider:
Understand Tariff Implications and Assess Risks and Opportunities – Conduct a thorough evaluation of how tariffs affect your business, including your costs and overall business operations. Identify areas for innovation and growth.
Review Pricing and Contracts – Work with vendors and clients to adjust pricing strategies and contractual terms as needed.
Diversify Suppliers – Explore alternative sourcing options, including domestic suppliers, to reduce reliance on tariff-affected goods.
Engage in Advocacy – Share your challenges with the CYC so we can amplify your concerns to policymakers.
Monitor Currency Fluctuations – Take advantage of financial tools to hedge against potential volatility in exchange rates.
Moving Forward Together
The Central York Chamber remains committed to supporting our business community through these uncertain times. We will continue to work with government partners, industry leaders, and our membership to seek solutions and advocate for policies that protect and strengthen our local economy.
Your voice matters, and your resilience is invaluable. We encourage you to stay engaged, share your concerns, and lean on the CYC as we navigate these challenges together.
Sincerely,
Chris Emanuel
President &CEO, Central York Chamber of Commerce