Incoming U.S. President Donald Trump's plan to impose tariffs on Canadian goods presents a critical challenge for Canada's export-based economy ─ and KPMG in Canada is supporting Canadian companies to meet this challenge and stay competitive.
"KPMG's Tax, Advisory and Legal professionals have been proactively working to understand the immediate impacts of U.S. tariffs and help our clients develop comprehensive, forward-looking strategies for a new era of Canada-U.S. relations," says Tim Prince, KPMG's Canadian Managing Partner, Clients and Markets.
KPMG's integrated teams provide comprehensive analyses of business, trade and tax-related risks and proactive solutions that help Canadian companies navigate immediate and long-term impacts. KPMG's Trade and Customs professionals are collaborating with our member firms in the U.S. and Mexico to analyze the potential effects of tariffs on international trade and provide holistic insights and advice.
Specifically, KPMG is supporting clients with:
- Trade and customs: Developing comprehensive strategies that can help optimize supply chains, mitigate impact and recover applicable tariffs.
- Tax/Transfer pricing: Assessing transfer pricing exercises to consider strategic structures and policies that go beyond compliance.
- Supply chain: Enhancing supply chain resiliency to strengthen business continuity and proactive planning opportunities.
- Risk services: Adhering to regulatory compliance requirements internally and when managing third party suppliers, including contract assessment and dispute resolution.
- Mergers and acquisitions: Advising on cross-border deals, value creation and business valuations.
KPMG spokespeople are available to comment on trade developments and business impacts and solutions, including:
| KPMG | Topic |
|---|---|
| Kenn Jordan, Partner, Trade and customs | Impacts on imports into Canada and the U.S., mitigation strategies |
| Joy Nott, Partner, Trade and customs | Impacts on imports into Canada and the U.S., mitigation strategies, renegotiation of Canada-U.S. Mexico Agreement (CUSMA) |
| Demet Tepe, Partner, National Leader, Transfer pricing | Multinational enterprises, transfer pricing strategies |
| Brad Rolph, Partner, Tax, National growth and development Leader, Transfer pricing | Multinational enterprises, transfer pricing strategies and trade disputes |
| Nancy Chase, Partner, National and Global Risk Services Leader | Risk services to assist clients with third-party and supply chain risks, contract and regulatory compliance |
| Marco Tomassetti, President, Corporate Finance Inc., and Partner, Deal Advisory | Implications of tariffs on mergers and acquisitions |
| Sal Mirandola, Partner, Tax Litigation and Dispute Resolution, KPMG Law LLP | Trade dispute resolution in relation to tariffs |
"In the short-term, many companies that rely on cross-border trade will need to conduct in-depth risk assessments of their supply chains and goods to determine how their operations and revenues may be affected," says Demet Tepe, Partner, National Leader, Transfer Pricing, KPMG in Canada. "We are advising companies to take immediate steps by identifying and assessing the country of origin and valuation of goods and adopting transfer pricing strategies to lower their dutiable amount as much as possible."
