Keeping up with tariffs

Tariff and export regulations are evolving rapidly. To help you build a foundational understanding, we’ve gathered an evolving list of key resources related to tariffs and trade.

What are Tariffs?

Also known as customs duties, a tariff is a tax on imported goods and services. Usually collected by a country’s customs agency when crossing the border, they’re meant to increase the desirability of domestically produced items.

Who Pays the Tariff

Typically buyers are responsible for paying tariffs, many importers pass these costs to consumers by including them in their their prices.

What Does That Mean for Me?

If you’re exporting goods, tariffs imposed by the country you’re shipping to will make your products more expensive for buyers. If you’re importing supplies, they’ll cost more to you, as you’ll need to pay the tariff as the purchaser.

What is a Free Trade Agreement?

An agreement between two countries to reduce or eliminate trade barriers. The aim is to make it easier to buy and sell goods across borders.

Resource Links

Looking for information on specific tariffs? Wanting to know more about how the system works in Canada? Get started with these resources.