04 Jul Taking the bite out of trade war tariffs
We didn’t fire the first shot in the trade dispute with the US, but with Canadian tariffs on US products coming into Canada set to begin on July 1. It’s about to get very real.
Among the list of tariff products are many processed foods, meats, ingredients and supplies that restaurant operators use on a daily basis. Add in the increased cost of anything in aluminum cans (due to the US aluminum tariff) and operators are facing an almost immediate cost increase of 9% or greater on certain items.
The bottom line is, these increases are really nasty business. The increased manufacturer costs are going to be passed on, and then your only choices are to swallow them or pass them on to your customers. Neither is good for your business.
We don’t know what the full effect is going to be. We don’t know how long the tariffs will last, but we do know there is something that can be done. Buy more locally. From raw and processed meats to paper products, there is an impressive array of goods that are Made Here. With unpredictable import prices, purchasing locally sourced goods provides more stability and predictable costs, not to mention the additional benefits of supporting other local producers/processors, keeping more money and jobs in the local economy.
Call it pocketbook patriotism, buy Canadian and screw Trump, we call supporting local common sense and good business. Take this time to look at what you’re buying, and more importantly, what you could be buying locally. Here’s our little list of things you can do to make a difference.
Five Tariffic Ways To Make A Difference
Know what’s on the tariff list. It’s the best way to understand how you might be affected and to identify what you might want to look for locally. It’s not just food on the tariff list.
Know what’s made locally. You likely purchase some locally made products, but do you know the full variety of options? Our Made Here catalog contains Nova Scotia’s widest selection of locally produced and Made Here product choices.
Instead of a price change, consider a menu change. You add and update menu items anyways. Instead of raising the price because of increased costs, look for opportunities to add a new item made locally.
Build new relationships. Talk to local producers and processors that you might not have done business with yet. Ask for ideas and options and see if they can help you. It’s always free to talk.
Look long-term. We don’t know how long these tariffs will last. And the list of affected products could continue to grow. Look at locally made as a long-term business strategy, not a Band-Aid solution.
OH Armstrong is not only a distributor; we are also a processor. To us, the words made in Nova Scotia are a point of pride that represents top quality and a steadfast commitment to local. It’s pretty simple. When you buy what’s made here, more money stays here. That’s something that our competition just can’t match.