Talks stalled over the weekend between Canada and the United States and businesses continue to suffer the consequences. American President Donald Trump laid another 50 per cent tariff on Canadian goods including dairy, alcoholic beverages, ice hockey equipment, cement, and more Related: A list of some of the items the U.S. is slapping with a 50 per cent tariff Kyle Peacock, company principal at Peacock Tariff Consulting said they were not surprised that talks stalled over the weekend. “We aren’t talking about, energy or potash or fertilizer, we’re talking about luxury items in those aspects, but anyone that owns a business in those areas, unfortunately, this is not a luxury item to them. It’s life,” said Peacock. “So that’s where these tariffs are really affecting a lot of businesses and their livelihoods.” It’s not just Canadian companies feeling the impact, Peacock added states along the border including Michigan and Maine are also feeling the pinch when it comes to the effects of tariffs. “We’re seeing long term relationships, vendor suppliers being really put under the knife in the sense of is it even worth supplying? Or from the US side saying, is it even worth supplying north because of all the uncertainty?” said Peacock. If businesses continue to import and export goods, they need to be compliant or face severe penalties. Related: How latest U.S. tariffs will impact Simcoe County community and business “You’re a supplier in Simcoe County, you’re shipping to the U.S, you have it, delivered with a carrier and you indicate on your paperwork that it’s going through Buffalo and then going down,” said Peacock. “If there’s an accident on a Buffalo bridge now, the carrier may change say, okay, I’m going through Fort Erie, but on your documentation, you’ve said it’s going through Buffalo. In the past, It would have just been waived away, no issue, now it’s a $10,000 fine.” “Now all of a sudden you’re incurring a $10,000 fine because your carrier didn’t follow the paperwork,” said Peacock. Related: Businesses brace for impact from potential tariffs CTV News Barrie spoke with residents asking them for their reaction to the tariffs. “I think is probably a little crazy, but you know the man in the red hat will do what he does,” said Noel. “It makes absolutely no sense.” With other residents saying the tariffs will affect their bottom line. “We do painting and raw materials coming from the (United) States and that’s why it’s affecting us too, unfortunately, said one resident. ”The way to adapt? You got to absorb something so that’s the problem." Trump warning the two countries may not be done with tariffs as he hinted at a possible another tariff on the auto sector by the end of the year.
