As we blogged on here, the threatened Trump and Canadian retaliatory tariffs stand to have a serious impact on Canadian businesses. Beyond the anticipatory steps we described previously that can be taken now, businesses should begin seriously considering their options for avoiding or recovering any retaliatory tariffs.
In this Report, we will review some of those options.
Tariff Exemptions
In compelling circumstances, it may be possible for a business to obtain an exemption from the retaliatory tariffs. Exemptions may be available for businesses that can demonstrate they will be unduly harmed by the tariffs. For example, if it can be established there are no viable alternatives in the supply chain for inputs required for goods that a business produces, an exemption may be made.