Tariff Resources for Businesses

As global trade wars and political tensions fuel economic uncertainty, many businesses are looking to adapt by diversifying trade strategies and by finding new opportunities. Tariffs are disrupting trade, driving up costs, and putting jobs and long-term economic growth at risk, according to the Canadian Chamber of Commerce. From the tech sector to the fishery no sector is immune. 

The Provincial Government launched Buy from Newfoundland and Labrador, Canada (#BuyNLCan) program and support for local and Canadian-made products where possible help build a stronger, more resilient Canadian economy. 

Here are several resources and updates to help support your business in managing trade challenges and to find new opportunities.

Canada’s response to the US tariffs and supports for Canadian businesses and workers can be found here. This site is being updated with new resources and information so it’s worth bookmarking. Diversifying trade for Canada is another helpful tool to navigate new markets. The Canada Revenue Agency is offering tax relief to businesses affected by tariffs, including deferred GST/HST and corporate tax payments, with interest relief from April 2 to June 30, 2025.

The Government of Newfoundland and Labrador (NL) is working to identify new export markets for NL products with a series of market development and expansion initiatives, deepening our connections with Europe and beyond to grow our trading opportunities.  

The Business Development Bank of Canada (BDC) is administering a $500 million loan fund to support businesses directly impacted by the uncertainty around United States (US) tariffs. These loans will feature favourable repayment terms. The BDC and partners have also developed a Canada Tariff Finder tool that allows Canadian exporters to find the tariffs applicable to a specific good in a foreign market. For updates on new resources check bdc.ca/en/special-support/tariffs regularly.        

Export Development Canada (EDC) has launched the Trade Impact Program, allocating $5 billion over two years to assist Canadian businesses that export and sell goods globally. The program aims to help businesses expand into new markets and navigate economic uncertainties. EDC also offers practical, step-by-step guidance in a tariff migration checklist and has information on how tariffs work and how they can affect international trade.

The Trade Commissioner Service helps Canadian businesses grow by connecting them with funding and support programs, international opportunities, and a network of trade commissioners in over 160 cities worldwide. Their CanExport program can help you do business internationally. 

Canadian Manufacturers & Exporters Trade and Tariff Hub offers industry-specific trade resources and updates.

In this practical guide KPMG offers risk management strategies for uncertain trade environments. Managing Uncertainty: A Risk Guide for Canadian Business. 

The City’s Business Information Centre team can connect you to the right tools, programs, and partners to explore new export markets, develop trade relationships and diversify supply chains and revenue sources.

City of St. John’s to attend NLOWE Conference 

Our Business Information Centre team will be on hand at the Newfoundland and Labrador Organization of Women Entrepreneurs (NLOWE) Conference April 10-11, providing insight, guidance, and connections to help your business grow.  The NLOWE Conference provides an opportunity for women entrepreneurs to connect with peers, learn best practices and gain insights from the business community. Drop by our booth at the St. John’s Convention Centre.  

Community Event Space at the Downtown Pedestrian Mall

The City of St. John's is offering free space on the Downtown Pedestrian Mall for organizations to engage with the community in creative ways. Interested organizations are encouraged to apply by completing the application form and outlining their ideas for enhancing the Downtown Pedestrian Mall. Please review all requirements before submitting. For more information, email specialevents@stjohns.ca.

CoLab Secures $5.6M for AI Project

St. John’s-based CoLab Software has received $5.6 million in funding from the Hibernia and Hebron offshore oil projects to help develop its new artificial intelligence and machine learning tool and to accelerate research and development.  This cash infusion will expedite the creation of CoLab’s new product – ReviewAI – an artificial intelligence tool that can comb through data and knowledge of past engineering projects to provide insight, improvements and make sure mistakes found in the past aren't repeated.

Funding to Support Sustainability of the St. John’s Community Market

The St. John’s Farmers’ Market Cooperative is getting close to $375,000 from the Government of Newfoundland and Labrador to diversify revenue streams and support its role as a hub for small businesses and community events. The market is best known for its Saturday markets and provides space for small local businesses that operate in the market supporting over 300 small businesses and attracting more than 200,000 visitors annually. Read the news release.