As the possibilities of tariffs become more prominent by the day, many Cochranites are looking for ways to buy more Canadian and locally made products, but it may not be as easy as some may think.
Jag Thind, vice president of the Cochrane and District Chamber of Commerce and owner of three businesses in town, recently spoke about the impact tariffs could have on the local economy.
Just like himself, Thind explained that every business owner pours their heart and soul into their profession. With the possibilities of trade tariffs looming over Canada, he believes that many small business owners aren’t equipped for what is on the horizon.
“They have not too many options to deal with any of this kind of stuff,” Thind said. “Let’s say the price is going up, then the food cost is going to go up for the restaurant, liquor’s going to be taxed more, and the tariffs are going to make a big-time difference.
“If it’s a Canadian-oriented place, the tariffs are going to make everything different.”
One of the strategies to combat the impending tariffs is to buy local, Canadian-sourced goods, and Thind said this is also a good time to examine what other markets exist in the current Canadian economy.
“We are depending on each other, and as we are reading the news and everything, each province should come together and at least move everything between the provinces,” he said. “Local wines, drinks, produce, and everything else. Across the board, everything should be the same.
“Not like promising to remove some of the barriers out there--- we need to remove the barriers.”
Thind owns two liquors stores and a restaurant in Cochrane. He outlined that he has already been taking actions against the tariffs.
“We are not ordering anymore US wines for now, or at least until they are clear that they are not going to put any tariffs on it,” he said. “We are keeping an eye on what’s going on and what we can do. Yes, we are promoting Canadian brands, wine, and stuff like that for the restaurant or anything like that.”
“I think it’s also important for us to remember that local support is always a big-time thing. Not just for times like now, because it’s always there. It’s a little extra work for us, but we should think about our local, Canadian businesses to help support them like we did in COVID times. Why can’t we always just do it?”
Similar to what occurred during the COVID-19 pandemic, Thind believes that the tariffs could impact local tourism and drive more Canadians to visit smaller communities like Cochrane.
“It’s a beautiful place we live in, and rather than spending money somewhere outside, if we can spend it here, I think it’s going to be a positive,” he said. “I think it’s more of a psychological barrier than anything else, but if we prepare ourselves and invest more in the community, local business, and Canadian things, I think it’s going to make that big-time difference.”
Thind notes that almost everything nowadays, regardless of provincial or international issues.
“Always consider; if there is a problem, then there is always a solution,” Thind said. “It’s our time. We need to think outside of the box about what we can do. Even as a small business owner and consumer, we need to think about where we are spending our money to support ourselves.”
For now, Thind said he can only watch how the tariffs can impact local business owners like himself and think about what measures he can take.
“What prices are going to go up, what are the substitutes for that, what are the things that we can use in Canada rather than anywhere else in the world,” Thind said. “That’s an everyday thing for now, at least until we know if we are sure the tariffs are there or not.
“But just preparing mentally more than anything else. […] I think the main thing for us now is just keeping an eye on this every day, and seeing what things are making a difference.”
