A new program in Canada aims to help businesses affected by U.S. counter-tariffs, though experts worry it won't fully shield all manufacturers. PhiBer Manufacturing in Manitoba is particularly struggling, incurring significant tariffs due to reliance on American materials. CEO Derek Friesen notes that unless tariffs are lifted entirely, the situation remains precarious. The temporary six-month exemption announced by Ottawa, which began on March 4, offers some hope for reduced tariffs on essential goods, yet Friesen argues it may not provide long-lasting solutions for his company's operational challenges.
Since the trade war with the U.S. erupted last month, PhiBer Manufacturing has been paying 'tens of thousands of dollars a week' in tariffs, according to CEO Derek Friesen.
The six-month exemption dates back to March 4, according to the Department of Finance, and is aimed at goods used in Canadian manufacturing and other essential sectors.
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