Council of American States in Canada

Join us in thanking Westchester County Office of Economic Development for sponsoring our 2024 Falll IDA Academy! This event takes place on November 7th -- this Friday is your LAST day to register! https://lnkd.in/gXwMPtKP

Google is set to open a 2,000-square-foot brick and mortar store at Oakbrook Center. This location will be Google’s fifith in the U.S. and first in the Chicagoland area. 📱 https://bit.ly/4hpqFCo

We’re not just here to compete, we’re in it to win. Pennsylvania just beat out multiple states to secure Mainspring Energy's more than $109M manufacturing expansion, bringing nearly 600 new jobs to Allegheny County. This innovative clean-tech manufacturer will produce up to 1,000 linear generators annually at their new 292,000-square-foot facility, marking another strategic victory in Pennsylvania's aggressive push to lead in energy and manufacturing innovation. The Commonwealth is supporting Mainspring’s expansion with an $8.6 million investment. Learn more: https://lnkd.in/g8kEFyaF #PAGetsItDone 

🌍 Empowering Georgia Businesses for Global Success! 🌍 We are proud to support Georgia businesses as they explore and grow in international markets. Over the past few years, our efforts have made a powerful impact on the state's economy. From small businesses to large companies, we are here to help Georgia businesses expand globally and achieve international success. Let’s continue driving economic growth together! 🌍 https://lnkd.in/enb6TQCe International Trade Administration #ExportExperts #USCommercialService #GeorgiaEconomy #ExportSuccess #GlobalTrade #SmallBusiness #JobCreation #InternationalBusiness

CARM WEBINAR - Exclusive for IE Canada Members! Join the IE Canada CARM Team on October 28th at 1:00 PM ET for an update on the latest developments in CARM implementation. They will share key insights and feedback gathered from industry leaders. Stay informed and prepared! For registration details, please refer to yesterday's Message: CARM Day 1 Special Edition. #CARM #Importers #IECanada #Members

The Council of American States in Canada (CASC) is an association of member states and trade offices committed to promoting direct investment into the United States and finding trade opportunities between American and Canadian companies. Visit our website to learn how we can help. http://investinusa.ca/

The Impact of Trade Tariffs on Consumer Prices: The Good, The Bad, and The Ugly Tariffs—taxes imposed on imported goods—can have a direct impact on the price consumers pay for everyday products. Whether they're used as a tool for protecting domestic industries or as a political weapon in trade disputes, the effect on the end-user is significant. Let's explore the good, bad, and ugly sides of tariffs and how they shape consumer costs. The Good: Protecting Domestic Industries & Jobs When used strategically, tariffs can shield local industries from foreign competition. By making imports more expensive, tariffs incentivize consumers to buy domestic products, boosting local businesses and preserving jobs. In certain sectors like manufacturing or agriculture, this can strengthen a country's economy. In the long term, domestic companies might thrive, innovate, and create better-quality products. The Bad: Higher Consumer Prices However, the downside of tariffs is that the cost burden often falls on the consumer. With fewer less expensive imports available, prices of everyday goods—from electronics to clothing—can rise. Even businesses that rely on foreign materials may pass on their increased costs to customers. What begins as a measure to protect one sector of the economy can lead to inflated prices for the entire market. The Ugly: When Tariffs Become Political Weapons When tariffs are used to punish other nations, such as during trade wars, the effects can be more severe. Retaliatory tariffs from other countries can disrupt global supply chains, leading to price hikes and shortages. Industries dependent on international trade suffer, and consumers ultimately bear the brunt of the political fallout. Over time, the economy may experience slower growth, reduced innovation, and strained international relations. The Bottom Line While tariffs can be a useful tool to protect domestic industries, they come at a cost. Collected by the government through customs authorities when imported goods enter the country, tariffs are typically paid by importers or businesses and the revenue often goes into the government’s general fund for public services or infrastructure projects. However, in cases like trade disputes, the primary goal may be to apply pressure on foreign partners rather than generating revenue. Ultimately, the economic burden shifts to consumers through higher prices, and when misused, tariffs can hurt the very businesses and consumers they aim to support. Balancing national interests with global trade realities is key to ensuring tariffs serve as an economic lever, not a liability. #Tariffs #Trade #Economics #SupplyChain #ConsumerPrices #GlobalEconomy #Policy #softwoods #softwood #Pine #Lumber

IE Canada members, here are this week's CARM tips: 1. Importers must ensure they discuss who will pay the SOA on October 31. Talk to your service providers to avoid any confusion or double payments. 2. Non-resident importers must obtain a 9-digit Business number from the Canada Revenue Agency. CBSA will not issue BN9 to NRIs, only to resident importers. 3. The importer must plan to review the SOA before payment to confirm the accuracy of the duty and tax calculations. The incorrect calculations seem to be more prevalent in SIMA entries. Remember that the SOA payment is still required on October 31. #IECanada #CARM #Tips #Week1

Peoria’s own NFW (Natural Fiber Welding) has been selected as a finalist for the 2024 Earthshot Prize. 🌎 NFW was selected from a pool of nearly 2,500 nominees across 139 countries in the Build a Waste-free World category. Learn more about NFW: https://nfw.earth/