After hearing from our major suppliers with respect to the pending tariffs, we are now able to communicate our position to help our customers and partners navigate these challenging times.
The impacts of the pending trade war/counter tariffs will have a marginal effect on our business since we have been focusing on Canadian brands for several years now. The impacts to the building industry are quite low in comparison to other markets, which is positive for the end user who is considering a new home or substantial renovation.
The larger concern is the potential negative effect on consumer confidence due to the uncertainty and chaos that the US President has caused which is disruptive to global markets that are still recovering from Covid, high interest rates and inflation. Despite all this Canada remains in a relatively strong position with interest rates and inflation trending down and now with some added motivation, Canada has a great opportunity to flourish by being less reliant on the US as a viable and stable trading partner. The reality is that due to the unpredictability of the US President, its almost impossible to predict the market, so we can only control what's in our control.
While our tile and some other raw goods are produced internationally (Italy, Spain, France, India etc..) it's mainly distributed by Canadian owned companies. Our wood, luxury vinyl and carpet is proudly made in Canada, while glass and steel products are also made and/or fabricated in Canada. The reality is that we live in a global supply market, which is just fine if everyone plays nice in the sandbox!
It’s a nice feeling to be energized and proud of all Canadians who are committed to rallying together towards a common goal. Canadians do not treat friends and allies in this manner which is why we are loved and respected all over the World.
Consumers have a choice, and we hope they choose to purchase from companies that are committed to Canadian products and from those who are invested in the local community they serve.
North Shore remains committed to supporting our Canadian partners and our local community through the Second Tracks program that provides access to our most vulnerable local youth to experience barrier free access to outdoor activities to improve their lives.
Respectfully,
John Mealey
North Shore Ltd.
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