10 Ways Canadian Companies Navigate the Impact of U.S. Tariffs
Summary
While the specific amount, extent, or start date for tariffs on either side of the border is currently unclear, Canadian organizations that will be directly or indirectly affected must be proactive and prepared. PIVOTAL’s expertise in this area include: • Employment Agreements: Adding or updating clauses pertaining to temporary layoffs, terminations, and/or reduced hours in cases of significant economic hardship caused by tariffs, or by similar market disruptions. • Force Majeure Clauses: Ensuring that your employment and vendor contracts include provisions to address unforeseen delivery or economic impacts caused by tariffs. • Stay Interviews: Providing advice and direction to help you regularly checking in with key employees, in order to address their concerns and build loyalty. For many organizations in Canada, the next several months (and perhaps years) could present multiple tariff-related challenges and issues affecting all aspects of HR, from hiring and retention, to compliance and legal.