In light of imposing tariffs on nearly all Canadian goods, Toronto's Mayor Olivia Chow announced a plan to review the city’s procurement policies to prioritize local products and services. This initiative is part of a broader strategy to utilize Toronto's substantial $78 billion budget in favor of Canadian businesses. Concurrently, industries in the Greater Toronto Area (GTA) are already experiencing economic repercussions, particularly those unable to absorb the new 25 percent tariffs. Chow's efforts emphasize the significance of local sourcing amidst these challenging trade conditions.
Toronto Mayor Olivia Chow is spearheading a initiative to prioritize local procurement, leveraging the city's $78 billion budget in response to new tariffs on Canadian goods.
A city-wide push will be implemented to put locally-made products and services at the forefront of Toronto's procurement policies.
The economic impact of 25 percent tariffs on Canadian goods is prompting concerns about contract voiding among businesses in the Greater Toronto Area.
GTA businesses, especially in industries like plastics and chemicals, are facing financial difficulties due to the inability to absorb sudden tariff costs.
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