How Will New Tariffs Affect Your Heavy Truck?
It’s hard to escape the news these days – every radio, TV, website and magazine is blaring headlines about some big bombshell that’s ready to go off. So unless you’ve been living in a cave with your hands over your ears, you’ve probably heard about the ongoing trade disputes between Canada and some other important trade partners.
On one hand, we are in the midst of renegotiating tariffs and trade terms with our largest ally and trader, the United States. NAFTA, a longstanding agreement that regulated the amount of taxes and fees that import/export items had between the three North American countries, is currently being drawn up anew, and what that will mean for our automotive supplies still remains to be seen. On the other hand, one of the world’s – and Canada’s – main suppliers of oil, Saudi Arabia, is now at odds with our government as well, meaning that there could be trouble on the horizon for all Canadians.