4 Ways You Can Support Niagara Businesses Through Tariff and Trade Turbulence
As Niagara’s businesses face challenges related to recent tariff and trade changes, many Niagara residents are unsure how best to support them. Here are four simple things Niagara residents can do right now to show local businesses we’re behind them every step of the way.
#1: Shift To A Local-First Mindset As You Shop, Support, and Share
Small purchase decisions made by thousands of Niagara residents can make a meaningful difference. Easy ways to do this include shaking up your grocery routine by adding a few local farm stands, farmers’ markets, bakeries, butcher shops, wineries, and craft breweries to your trip, or finding some new locally made products you love to give as gifts.
Take Action: Browse the Niagara Business Directory to find nearby businesses that would love your support right now.
#2: Consider Keeping Some of Your Tourism Dollars Right Here In Niagara
Tourism is a major driver of Niagara’s economy. Those visiting Niagara contribute over $2 billion in annual spending in our region. Exploring a new-to-you corner of Niagara, catching a concert or play, or enjoying a few meals out is a wonderful way to help attractions and restaurants offset the increased costs they may be facing as a result of tariffs on their supplies.
Take Action: Find local fall travel inspiration on the Visit Niagara Canada website.
#3: Ask Niagara Businesses How You Can Best Support Them
As you are out supporting Niagara businesses, take a moment to chat with the staff, and you may discover other ways you can really help their business right now, like:
- Buying directly through them instead of through a secondary supplier
- Ordering local holiday gifts a little earlier than normal
- Posting a positive online review about a good experience you’ve had
- Referring family and friends to the business or service
- Purchasing gift certificates
- Making a few extra visits during the off-season
Take Action: As you’re speaking to Niagara business owners being impacted by recent trade and tariff changes, be sure to let them know that the Niagara Region website has a dedicated Tariff Resources and Support page where they can find the latest tariff guidance, funding and financing programs, duty relief, export supports, and get personalized support to connect with the appropriate government agencies and support organizations.
#4: Understand The Impact Tariffs Could Have On Niagara
If you’re confused by today’s tariff situation, you’re not alone. There are three key ways Niagara businesses and residents will feel the impact of recent tariff and trade changes:
- Niagara Businesses May Lose American Customers
- With the onset of U.S. tariffs on Canadian products, a $1 product an American business once bought from a Niagara business may now cost that business $1.50. To protect its bottom line, the Niagara company’s American customer may seek a cheaper domestic alternative, resulting in reduced or eliminated future orders for the Niagara business.
- The Impact of Fewer U.S. Sales For Niagara Businesses Could Cause A Ripple Effect
- When a Niagara company loses a U.S. customer, it doesn’t just impact that company. That Niagara company no longer needs to purchase as much from its local suppliers. Its employees or seasonal workers may be scheduled for fewer hours. Those employees may spend less at local stores and restaurants. The support of Niagara businesses by Niagara residents can help reduce the impact of lower sales to their U.S. customers.
- Some Products You Buy In Niagara May Become More Expensive or Harder To Find
- New counter-tariffs Canada is imposing on imports from the U.S., like appliances, dairy, agricultural equipment, electronics, steel, and aluminum, are generally paid by the importing company. This means that if a Niagara company imports $1000 of a U.S. product that has a counter-tariff on it, its costs could rise to $1250. If it can’t find a Canadian alternative or a non-U.S. supplier, the company will have to absorb that extra $250, raise its prices, or stop selling the product altogether.
While today’s trade landscape presents significant challenges for Niagara businesses, it also presents an opportunity for us to build a stronger Niagara. Showing Niagara businesses your support by considering new local options, spending some of your vacation budget on closer-to-home adventures, and better understanding what your favourite Niagara businesses need most right now will help build a more resilient local economy that everyone can feel good about.
Take Action: Share a link to this post to help even more Niagara residents discover what they can do to help Shop, Support, Share to Build Niagara Strong.