With new tariffs taking effect after Canada and the U.S failed to reach a trade deal, a local tariff expert breaks down what it means for Simcoe County and Muskoka. Weeks of intense talks between Prime Minister Mark Carney and President Donald Trump came down to the final hour Friday evening before the midnight deadline. But no trade deal means 50 per cent tariffs on $28 billion-worth of Canadian goods are now in effect. In Simcoe County, Kyle Peacock, Principal of Orillia-based Peacock Tariff Consulting, says the scope of impact is ‘much wider’ than the automotive, dairy and alcohol sectors. “The proclamations reach cement, plywood, furniture, fishing rods, seeds, clothing and hockey equipment, among hundreds of classifications,” explained Peacock in an email to CTV News. “Businesses that checked the three named sectors and stopped have often not found their actual exposure.” He adds that the affected goods are not exempt under CUSMA. “Entry date, not ship date, decides the duty,” continued Peacock. “That distinction is what determines whether a shipment already on the road gets hit.” Reaction has continued pouring in from both the Canadian and American sides, including premiers. The Prime Minister announced retaliatory tariffs in his remarks at a press conference Saturday in Ottawa. More to come. With files from CTV’s Chief Political Correspondent Vassy Kapelos and CTV’s Stephanie Ha.
