HRAI Webinar: Bracing for US Tariffs.
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On January 16, HRAI invited members to a free webinar discussing potential border tariffs and their impact on the HVACR sector. The presentation, US Tariff Policies and Canadian Response, delved into US President Donald Trump's threats to impose a 25% tariff on Canadian goods entering the US and explored the possible consequences and responses on both sides of the border.
"This was not on our radar or to-do list six months ago or even a month ago, but it's something that we're now being pulled into whether we like it or not," said Luymes at the top of the webinar. "Our goal at HRAI is to try faithfully to represent the wishes of our industry in how we position the industry with the Canadian government as they contemplate the appropriate response."
The webinar featured a panel including Sandy MacLeod, President and CEO (HRAI); Martin Luymes, Vice President, Government and Stakeholder Relations (HRAI); Perry Cho, Director of Regulatory Affairs (HRAI); and Alex Greco, Senior Director, Manufacturing and Value Chains at the Canadian Chamber of Commerce.
Together, the panel scrutinized the issue of border tariffs over several segments, including:
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General Overview (Alex Greco): Reviewing Canada and the US's existing trade relationship, its mutually beneficial advantages, the outcomes of President Trump's first-term tariffs, and how a second round of tariffs may affect both countries.
President Trump has yet to pull the trigger on his proposed tariffs. Nevertheless, he has instructed agencies to “investigate and remedy persistent trade deficits and address unfair trade and currency policies by other nations." HRAI is currently developing a position statement to share with its members in the near future. It will also continue monitoring the issue to ensure members are up-to-date and prepared if this risk to North American trade takes shape.
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