{"id":55808,"date":"2025-02-04T15:57:19","date_gmt":"2025-02-04T15:57:19","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2025\/02\/04\/trade-diversification-not-easy-for-canadian-companies\/"},"modified":"2025-02-04T15:57:19","modified_gmt":"2025-02-04T15:57:19","slug":"trade-diversification-not-easy-for-canadian-companies","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2025\/02\/04\/trade-diversification-not-easy-for-canadian-companies\/","title":{"rendered":"Trade diversification not easy for Canadian companies"},"content":{"rendered":"<div style=\"text-align:center\"><\/div><p> \n<\/p>\n<div id=\"\">\n<header aria-label=\"Beginning of Article\" class=\"article-header article-header--story\">\n<nav aria-label=\"Breadcrumb\" class=\"breadcrumbs\" data-aqa=\"nav-breadcrumb\">\n<p>Breadcrumb Trail Links<\/p>\n<ol class=\"breadcrumbs__items list-unstyled\">\n<li class=\"breadcrumbs__item\">News<\/li>\n<li class=\"breadcrumbs__item\">Economy<\/li>\n<\/ol>\n<\/nav>\n<div class=\"article-header__detail\">\n<div class=\"article-header__detail__texts\">\n<p class=\"article-subtitle\">Donald Trump&#8217;s trade war could push businesses to find new markets, but not without cost<\/p>\n<div class=\"callout callout--noindent flex-align-center flex-justify-between\" data-evt-val=\"{\" control_fields=\"\" data-evt=\"visible\" data-evt-typ=\"element_view\"><span class=\"callout__text\"> Get the latest from Barbara Shecter straight to your inbox <\/span><button class=\"button button--icon button--primary-alt\" data-id-login-redirect=\"https:\/\/financialpost.com\/author\/bshecter\/newsletters\/\" type=\"button\"><span class=\"button__text\">Sign Up<\/span> <span aria-hidden=\"true\" class=\"button__icon\"> <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 11 11\" width=\"11\"><polygon points=\"1.1 0 7 6 1.1 12 0 10.9 4.8 6 0 1.1\"\/><\/svg> <\/span><\/button><\/div>\n<div class=\"article-meta\">\n<p><span class=\"published-date__since\">Published Feb 04, 2025<\/span> \u00a0\u2022\u00a0 <span class=\"updated-date__since\">Last updated 6\u00a0minutes ago<\/span> \u00a0\u2022\u00a0 <span class=\"published-date__word-count\">5 minute read<\/span><\/p>\n<div class=\"article-meta__bottom\">\n<div class=\"bookmark-wrapper\">\n<div class=\"popover\" data-aqa=\"popover\" data-click-to-appear=\"True\" data-container=\"\" data-container-offset=\"\" data-no-style=\"\" data-popover-component=\"\" data-position=\"top\" data-sticky=\"\" data-tail-offset=\"200\" data-tail-position=\"right\"><button class=\"popover__trigger bookmark-button\"><span class=\"save-article-button save-article-button--default\" title=\"Save article\" data-article-id=\"e10f98bd-e0a2-4bc5-b044-73254bc9a4b7\" data-evt-skip-click=\"true\"\/><\/button><\/p>\n<div aria-describedby=\"popover-desc-popover-bookmark\" class=\"popover__content\" hidden=\"\" role=\"dialog\">\n<div class=\"popover__content__wrapper\">\n<div class=\"popover__content__text\" id=\"popover-desc-popover-bookmark\">\n<div class=\"bookmark__popover__content\">\n<p>You can save this article by registering for free here. Or sign-in if you have an account.<\/p>\n<\/div>\n<\/div>\n<p><button class=\"popover__content__close\" data-evt-skip-click=\"true\" title=\"Close\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewbox=\"0 0 12 12\" class=\"icon--close\" height=\"12\" version=\"1.1\" width=\"12\"><polygon points=\"12 0.95 11.05 0 6 5.05 0.95 0 0 0.95 5.05 6 0 11.05 0.95 12 6 6.95 11.05 12 12 11.05 6.95 6\"\/><\/svg><\/button><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<figure class=\"featured-image\" data-aqa=\"featured-image\"><picture class=\"featured-image__ratio\"><\/source><\/source><\/source><\/source><\/picture><figcaption class=\"featured-image__caption image-caption\"><span class=\"caption\">For many Canadian companies, there will be no quick shift to new trading partners, say experts.<\/span> <span class=\"credit\">Photo by NASA<\/span><\/figcaption><\/figure>\n<\/div>\n<\/header>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<p data-async=\"\">Kyle Feigenbaum planned to take things slowly after meeting with an Asian retailer a few months ago to explore Hong Kong, Singapore and Malaysia as markets for his Montreal-based dog food company. But the tariff battle between the United States and Canada ignited by U.S. President Donald Trump over the weekend changed that.<\/p>\n<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>Feigenbaum instead jumped on the phone Monday to \u201caccelerate\u201d talks about getting his company\u2019s products into markets outside North America.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_2\">\n<section aria-describedby=\"advertisment7146043065239863913699885818314752\" class=\"ad\">\n<p>Advertisement 2<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-2\">\n<div class=\"ad__inner__container\" data-ad=\"[[6,6],[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-interscroller=\"6x6\" data-ad-loc=\"2\" 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authors<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/header>\n<div class=\"identity-screen m-x-0 p-x-0 col-xs-12 col-md-6 flex-justify-center flex-align-center\" aria-live=\"assertive\">\n<section class=\"sail\" data-account-id=\"b9d3df2fccd108b5eff3c44f573b2cd6\" data-sailthru-personalization-engine=\"\" data-sailthru-personalization-engine-component=\"\"\/>\n<div class=\"m-x-0 p-x-0 col-xs-12 col-sm-6 col-md-12 flex-align-justify-center\" data-auth-component=\"\" id=\"auth-screen-form\">\n<div class=\"identity-screen-form--active w-full flex-align-justify-center\">\n<div class=\"identity-screen-form identity-screen__content w-full\">\n<h2 class=\"blocker-title\">Sign In or Create an Account<\/h2>\n<p><span class=\"identity-divider__line\"\/><span class=\"identity-divider__text\">or<\/span><span class=\"identity-divider__line\"\/><\/p>\n<\/div>\n<\/div>\n<\/div>\n<footer class=\"identity-footer identity-screen__content m-x-0 p-x-0 col-sm-6 col-md-12\"\/><\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>\u201cIt\u2019s crazy to recognize how quickly government actions, warranted and strategic or not, can deeply affect our business,\u201d he said. \u201cLots of entrepreneurs in my circles are feeling the pressure and looking for solutions.\u201d<\/p>\n<p>Feigenbaum\u2019s business, Healthybud, distributes products through more than 1,200 online and bricks and mortar retailers in North America including Global Pet Foods and manufactures products in both Canada and the U.S. But it wasn\u2019t just smaller companies like his that were feeling nervous nervous as tensions increased with Canada\u2019s largest trading partner this week.<\/p>\n<h2>Look beyond CUSMA<\/h2>\n<p>William Pellerin, a partner at law firm McMillan LLP who specializes in international trade, fielded call after call from clients Monday looking for ways to offset the impact of the 25 per cent tariffs declared by the Trump administration and the first volley of counter-tariffs imposed by Canada, which were expected to go into effect Tuesday before a late-afternoon reprieve on Monday extended the deadline by 30 days.<strong><br \/><\/strong><\/p>\n<p data-async=\"\">His advice was to urge companies to look beyond the Canada-United States-Mexico Agreement (CUSMA) and take fuller advantage of deals such as the Canada-European Union Comprehensive Economic and Trade Agreement (CETA) and the trans-Pacific trade pact, which the United Kingdom signed onto in December.<\/p>\n<\/section>\n<div class=\"js-widget-content article-content__widget-group article-content__widget-group--content-slot16 article-content__widget-group--newsletter-slot\">\n<section class=\"newsletter-widget__new-story-page fp-headlinenews background--primary-light-gradient\" aria-labelledby=\"FinancialPostTopStories9258578340088434551929400425709568\" data-account-id=\"b9d3df2fccd108b5eff3c44f573b2cd6\" data-aqa=\"widget-newsletter\" 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Stories<\/p>\n<p class=\"newsletter-widget__text__new-story-page\">Get the latest headlines, breaking news and columns.<\/p>\n<\/div>\n<\/div>\n<div class=\"newsletter-widget__body__new-story-page\">\n<div class=\"js-replace-main__new-story-page\">\n<p class=\"newsletter-widget__disclaimer__new-story-page text-size--tiny\">By signing up you consent to receive the above newsletter from Postmedia Network Inc.<\/p>\n<\/div>\n<div class=\"js-submit-success\" hidden=\"\" id=\"submitSuccessFP_HeadlineNews\">\n<p>Thanks for signing up!<\/p>\n<p class=\"newsletter-widget__text__new-story-page\">A welcome email is on its way. If you don&#8217;t see it, please check your junk folder.<\/p>\n<p class=\"newsletter-widget__text__new-story-page newsletter__feedback--last\">The next issue of Top Stories will soon be in your inbox.<\/p>\n<\/div>\n<p class=\"newsletter-widget__text__new-story-page js-submit-error\" style=\"margin-top: 8px\" hidden=\"\" id=\"submitErrorFP_HeadlineNews\">We encountered an issue signing you up. Please try again<\/p>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_3\">\n<section aria-describedby=\"advertisment5967831669004075527058088116879360\" class=\"ad\">\n<p>Advertisement 3<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-3\">\n<div class=\"ad__inner__container\" data-ad=\"[[7,7],[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-interscroller=\"7x7\" data-ad-loc=\"3\" data-ad-mobile=\"[[7,7],[300,250],[320,50],[300,50]]\" data-aqa=\"advertisement\" id=\"ad-3\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>\u201cOur exports to a number of markets are too low, frankly, for the size of our economy, and we have been for a long time overly dependent on the United States,\u201d Pellerin said. \u201cSo we ought to be looking to the EU and to Asia more than we always have.\u201d<\/p>\n<p>That will be easier for some sectors and companies than others, he said, adding that one area ripe for increased trade outside North America is agricultural commodities such as grains and canola.<\/p>\n<p>\u201cWe\u2019re seeing indications there where China\u2019s very interested in taking away some of that traditional relationship space between Canada and the United States, so they may be increased buyers,\u201d he said.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>However, differences in consumer profiles mean that not everything is transferable from one market to another.<\/p>\n<p>\u201cHigher-end consumer-type products that we ship, luxury furniture, for example, is not going to get purchased by the Chinese consumer,\u201d Pellerin said. \u201cSo it very much depends by industry, by sector.\u201d<\/p>\n<h2>Supply management snags<\/h2>\n<p data-async=\"\">Gaining traction for some increased trade would require rethinking long-held views on supply management, he said, and making concessions.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_4\">\n<section aria-describedby=\"advertisment87648389701778798563570143461376\" class=\"ad\">\n<p>Advertisement 4<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-4\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"4\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" data-aqa=\"advertisement\" id=\"ad-4\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>\u201cIf we want to export more dairy-type products, for example, to the EU, or \u2026 goods that are currently caught by supply management, such as poultry, then that means that we have to also open our markets so there\u2019s always quid pro quo there,\u201d Pellerin said. \u201cAnd it\u2019s not clear that there\u2019s necessarily an easy answer, at least with respect to the EU.\u201d<\/p>\n<p>Clifford Sosnow, a partner and chair of the international trade and investment group at law firm Fasken Martineau DuMoulin LLP, said the integration of markets and supply chains within North America have emerged not just out of the close political relationship but also because of proximity and cultural connections that keep friction and costs down. And that will challenge any attempts to diversify or otherwise move away from it, and make it less worthwhile if the tariff dispute proves to be short-lived.<\/p>\n<h2>Trade ties that bind<\/h2>\n<figure class=\"embedded-image\" data-aqa=\"embed-image\"><picture class=\"embedded-image__ratio\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/02\/border-0104-ph.jpg?quality=5&strip=all&w=100&sig=hdlY6dkbm7tc92XRHKUHMw&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/02\/border-0104-ph.jpg?quality=5&strip=all&w=100&sig=hdlY6dkbm7tc92XRHKUHMw&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/02\/border-0104-ph.jpg?quality=5&strip=all&w=100&sig=hdlY6dkbm7tc92XRHKUHMw&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/02\/border-0104-ph.jpg?quality=5&strip=all&w=100&sig=hdlY6dkbm7tc92XRHKUHMw&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/02\/border-0104-ph.jpg?quality=5&strip=all&w=100&sig=hdlY6dkbm7tc92XRHKUHMw&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/02\/border-0104-ph.jpg?quality=5&strip=all&w=100&sig=hdlY6dkbm7tc92XRHKUHMw&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/02\/border-0104-ph.jpg?quality=5&strip=all&w=100&sig=hdlY6dkbm7tc92XRHKUHMw&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/02\/border-0104-ph.jpg?quality=5&strip=all&w=100&sig=hdlY6dkbm7tc92XRHKUHMw&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/02\/border-0104-ph.jpg?quality=5&strip=all&w=100&sig=hdlY6dkbm7tc92XRHKUHMw&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/02\/border-0104-ph.jpg?quality=5&strip=all&w=100&sig=hdlY6dkbm7tc92XRHKUHMw&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/02\/border-0104-ph.jpg?quality=5&strip=all&w=100&sig=hdlY6dkbm7tc92XRHKUHMw&ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"US border\" class=\"embedded-image__image lazyload\" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/02\/border-0104-ph.jpg?quality=90&strip=all&w=288&sig=LJedaQmL9L0mq5HJP_wWYw\" data-srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/02\/border-0104-ph.jpg?quality=90&strip=all&w=288&sig=LJedaQmL9L0mq5HJP_wWYw,\n                https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/02\/border-0104-ph.jpg?quality=90&strip=all&w=576&sig=i1fv1a2s2QGXrW25r6T4Nw 2x\" fifu-data-src=\"https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/02\/border-0104-ph.jpg?quality=5&strip=all&w=100&sig=hdlY6dkbm7tc92XRHKUHMw&ssl=1\" height=\"589\" loading=\"lazy\" width=\"1000\"\/><\/source><\/source><\/source><\/source><\/source><\/picture><figcaption class=\"image-caption\"><span class=\"caption\"> A line of trucks wait to cross the Bluewater Bridge border crossing between Sarnia, Ontario and Port Huron, Michigan.<\/span> <span class=\"credit\">Photo by A line of trucks wait to cross the Bluewater Bridge border crossing between Sarnia, Ontario and Port Huron, Michigan on January 29, 2025. The Bank of Canada on January 29 cut its key lending rate 25 basis points to 3.0 percent, noting that US tariff threats are creating uncertainty for the economy.&#8221;&#8221;The economy is expected to strengthen gradually and inflation to stay close to target (of two percent),&#8221; the central bank said. &#8220;However, if broad-based and significant tariffs were imposed, the resilience of Canada&#8217;s economy would be tested.&#8221; (Photo by Geoff Robins \/ AFP) (Photo by GEOFF ROBINS\/AFP via Getty Images<\/span><\/figcaption><\/figure>\n<p>\u201cThe reality is that the economies between the United States and Canada have, for decades, developed a very, very integrated space, and it has been supply chains of less friction (and) lower cost, given that so many U.S. companies have affiliates in Canada,\u201d Sosnow said.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_5\">\n<section aria-describedby=\"advertisment732012866707677509580672599064576\" class=\"ad\">\n<p>Advertisement 5<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-5\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"5\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" data-aqa=\"advertisement\" id=\"ad-5\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>Pivoting to other global trading partners is only likely to make sense if the cost of inaction puts a company at risk of failing, he said.<\/p>\n<p>\u201cThe question becomes, \u2018What is the pain point for Canadians doing business in the United States or importing product from the United States? And does that pain point put our company in peril?\u2019 If the answer is, \u2018yes,\u2019 there becomes a crisis element that requires them to look at other agreements,\u201d Sosnow said.<\/p>\n<p>Consumers may have the luxury to take an anti-American stance or switch to Canadian products as suggested by Prime Minister Justin Trudeau in response to the tariffs, but businesses are very unlikely to act on emotion, Sosnow said.<\/p>\n<p>\u201cThey may be angry, but they\u2019re also looking at their spreadsheets. They\u2019re looking at their budgets. They\u2019re looking at their obligations, their purchase orders, their survivability,\u201d he said. \u201cAnd if they look for other supply chains and look to de-risk those supply chains, it will take time, and time is cost.\u201d<\/p>\n<p>Breaking agreements with existing trade partners may not come without cost and other potential challenges, too, he added.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_6\">\n<section aria-describedby=\"advertisment6937673728113251642982320803151872\" class=\"ad\">\n<p>Advertisement 6<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-6\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"6\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" data-aqa=\"advertisement\" id=\"ad-6\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>Global supply chain disruptions caused by the COVID-19 pandemic in 2020\u00a0forced many companies to re-evaluate where they buy and sell supplies and how much redundancy to build into their systems. Those that did so may be less vulnerable to the trade war, said Sabrina Bandali, a partner in the international trade and investment group at Bennett Jones LLP.<\/p>\n<p>\u201cThose companies will have evaluated their options and can execute on those contingency plans now,\u201d she said.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>It will be an uphill battle, however, for those that are looking at this for the first time.<\/p>\n<p>\u201cHow readily companies can access these opportunities will differ,\u201d she said. \u201cThere will be existing supply and customer relationships in those markets that new Canadian entrants will be disrupting, which is difficult to do well under strained circumstances.\u201d<\/p>\n<p data-async=\"\">On Monday, Canada and Mexico both forged a last-minute agreement with the United States to hold off the tariffs for a month, but it remains unclear how long the dispute prompted by Trump will last as the Canada-U.S.-Mexico trade agreement comes up for review in 2026. In the meantime, for many Canadian companies, there will be no quick shift to new trading partners.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_7\">\n<section aria-describedby=\"advertisment2482414605369199723433492979122176\" class=\"ad\">\n<p>Advertisement 7<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-7\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"7\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" data-aqa=\"advertisement\" id=\"ad-7\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<section aria-labelledby=\"moreTopicLabel4148979464647743597499132032319488\" class=\"more-topic\" data-aqa=\"embed-more-topic\" data-carousel-component=\"\" data-carousel-icon-button=\"\" data-carousel-type=\"list\">\n<p>Recommended from Editorial<\/p>\n<p><button aria-hidden=\"true\" class=\"more-topic__button-prev\" data-carousel-prev=\"\" tabindex=\"-1\" title=\"previous\" type=\"button\"\/><\/p>\n<ol class=\"more-topic__items list-unstyled\" data-carousel-slide-list=\"\" tabindex=\"0\">\n<li data-evt-val=\"{\" control_fields=\"\" takes=\"\" aim=\"\" at=\"\" canada=\"\" banking=\"\" sector=\"\" data-carousel-item=\"\" data-evt=\"click\" data-evt-typ=\"click\"> <picture class=\"more-topic__item-image\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" 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1024w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2025\/01\/IP-trade.jpg?h=96&strip=all&quality=5&sig=cius4GNTUc9D-DocQOGQBw&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2025\/01\/IP-trade.jpg?h=96&strip=all&quality=5&sig=cius4GNTUc9D-DocQOGQBw&ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"The J. C. Van Horne Bridge, over which beer flows into New Brunswick from Quebec.\" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2025\/01\/IP-trade.jpg?h=96&strip=all&quality=80&sig=id34Jf-5T5khBCka5rUQpw\" fifu-data-src=\"https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2025\/01\/IP-trade.jpg?h=96&strip=all&quality=5&sig=cius4GNTUc9D-DocQOGQBw&ssl=1\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2025\/01\/IP-trade.jpg?h=96&strip=all&quality=80&sig=id34Jf-5T5khBCka5rUQpw, https:\/\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2025\/01\/IP-trade.jpg?h=192&strip=all&quality=80&sig=B3rXb6a2s69wiMG1gd2SBg 2x,\n                                             https:\/\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2025\/01\/IP-trade.jpg?h=288&strip=all&quality=80&sig=qaZBpJCPbYV5Td4-UyRv0w 3x\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">Could Trump&#8217;s tariffs bring down interprovincial trade barriers?<\/span><\/p>\n<\/li>\n<li data-evt-val=\"{\" control_fields=\"\" ways=\"\" for=\"\" canada=\"\" to=\"\" fight=\"\" back=\"\" than=\"\" a=\"\" full-on=\"\" trade=\"\" war=\"\" data-carousel-item=\"\" data-evt=\"click\" data-evt-typ=\"click\"> <picture class=\"more-topic__item-image\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/01\/no0128border.jpg?h=96&strip=all&quality=5&sig=201V4FUWy4fP2zk4OgTnpg&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/01\/no0128border.jpg?h=96&strip=all&quality=5&sig=201V4FUWy4fP2zk4OgTnpg&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/01\/no0128border.jpg?h=96&strip=all&quality=5&sig=201V4FUWy4fP2zk4OgTnpg&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/01\/no0128border.jpg?h=96&strip=all&quality=5&sig=201V4FUWy4fP2zk4OgTnpg&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/01\/no0128border.jpg?h=96&strip=all&quality=5&sig=201V4FUWy4fP2zk4OgTnpg&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/01\/no0128border.jpg?h=96&strip=all&quality=5&sig=201V4FUWy4fP2zk4OgTnpg&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/01\/no0128border.jpg?h=96&strip=all&quality=5&sig=201V4FUWy4fP2zk4OgTnpg&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/01\/no0128border.jpg?h=96&strip=all&quality=5&sig=201V4FUWy4fP2zk4OgTnpg&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/01\/no0128border.jpg?h=96&strip=all&quality=5&sig=201V4FUWy4fP2zk4OgTnpg&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/01\/no0128border.jpg?h=96&strip=all&quality=5&sig=201V4FUWy4fP2zk4OgTnpg&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/01\/no0128border.jpg?h=96&strip=all&quality=5&sig=201V4FUWy4fP2zk4OgTnpg&ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"American and Canadian flags at the Ambassador Bridge border crossing in Windsor, Ont.\" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/01\/no0128border.jpg?h=96&strip=all&quality=80&sig=e948_e7DjDrVv4S3IztLgg\" fifu-data-src=\"https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/01\/no0128border.jpg?h=96&strip=all&quality=5&sig=201V4FUWy4fP2zk4OgTnpg&ssl=1\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/01\/no0128border.jpg?h=96&strip=all&quality=80&sig=e948_e7DjDrVv4S3IztLgg, https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/01\/no0128border.jpg?h=192&strip=all&quality=80&sig=Fzh76ktQCb_gXD-ab21Oeg 2x,\n                                             https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/01\/no0128border.jpg?h=288&strip=all&quality=80&sig=3Nb_SEp--cT-xZBCcGKiKA 3x\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">Better ways for Canada to fight back than a full-on trade war<\/span><\/p>\n<\/li>\n<\/ol>\n<p><button aria-hidden=\"true\" class=\"more-topic__button-next\" data-carousel-next=\"\" tabindex=\"-1\" title=\"next\" type=\"button\"\/><\/section>\n<p>\u201cIf you\u2019re landlocked in Saskatchewan and Manitoba shipping very heavy goods, you may not have an easy pivot at all to get to the EU or to Asia,\u201d Pellerin said.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>\u201cMaybe you have access to Mexico and some ability to make up some sales, but for the vast majority of Canadian businesses, I think the possibility of shipping to foreign markets or finding customers in the near term might be very limited.\u201d<\/p>\n<p data-async=\"\"><em>\u2022 Email: bshecter@postmedia.com<\/em><\/p>\n<p data-async=\"\"><em><strong>Bookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add financialpost.com to your bookmarks and sign up for our newsletters here.<\/em><\/p>\n<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<section class=\"article-content__share-group article-delimiter\" data-evt-val=\"{\" control_fields=\"\" data-evt-typ=\"page_scroll\">\n<p>Share this article in your social network<\/p>\n<\/section>\n<\/div>\n\n<br \/>Trade diversification not easy for Canadian companies<\/a><br \/>\n<br \/>2025-02-04 15:57:19<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Breadcrumb Trail Links News Economy Donald Trump&#8217;s trade war could push businesses to find new markets, but not without cost Get the latest from Barbara Shecter straight to your inbox&#8230;<\/p>\n","protected":false},"author":2,"featured_media":55809,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/02\/canada-0104-ph.jpg?quality=90&strip=all&w=288&h=216&sig=Y2XOcksVlznBC5FjTy5vDA","fifu_image_alt":"","footnotes":""},"categories":[31],"tags":[],"class_list":["post-55808","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy"],"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/55808","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=55808"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/55808\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/55809"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=55808"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=55808"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=55808"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}