2 days ago
Latest tariff increases causing more concern locally
US President Donald Trump's move to double tariffs on steel and aluminum is expected to affect a variety of industries in Simcoe County.
Local businesses that depend on steek and aluminum products say they are once again left in limbo for what it will mean to their bottom line and customers.
'I don't know if my can costs are doubling or tripling,' said Walter Vaz, owner of Heritage Estate in Barrie. 'We have no idea where it's going.'
Heritage Estate is a small wine and cider producer near Highway 11. Even though most of their products are sold locally, they depend on cans from the United States.
'Honestly our can producers right now aren't even giving us pricing,' added Vaz. 'We have to wait literally until we place an order and then we will get current pricing at that time. It's at that time we will make a decision. Are we producing or not producing?'
'Our message currently is to stay calm, stay poised and use this opportunity to benefit local manufacturers,' said Kyle Peacock, a tariff consultant out of Orillia.
Peacock works with companyies trying to navigate the ever-changing tariff world.
'Stay the course, don't upset your business and don't react,' added Peacock. 'Continue to survive, but at the same time, look at multi-sourcing into other markets that you can secure.'
Trombly's Tackle Box in Orillia has been in business for almost 40 years. Logan Trombly, the owner, says the majority of their guns come from the US.
'We have made a decision recently on a lot of the American made brands,' said Trombly. 'At this point in time we're holding off on bringing them in, except for a couple of categories, because there is such a demand on some of those products.'
Trombly says there no question the extra cost will have to be passed onto to consumers and that puts everyone in a difficult position.
'Some products that we sell use to retail it for $899 and our cost now is like three hundred dollars more than we use to sell it for' added Trombly.
The owners say they hope the tariff situation will be addressed later this month at the G7 Summit in Alberta.
