Yormick Law founder and Managing Member, Jon P. Yormick, was quoted in a Buffalo Business First article on the impact potential 25% tariffs on Canadian goods might have on business in the Buffalo-area. Buffalo Business First is the leading source of local business news, data, and networking for Western New York.
The article, titled “What a 25% tariff on Canadian imports could mean for Buffalo business,” highlights Jon’s views that President-elect Trump is likely to take action early in his administration and follow-through on statements that Canadian goods will be subject to a 25% tariff. He explained that such action could be taken under the International Emergency Economic Powers Act (IEEPA). He expressed his thoughts that Canadian companies operating subsidiaries in Buffalo and other cities and towns along the Northern Border would be most intensely impacted and that companies in the automotive sector will additionally face administrative burdens in dealing with tariffs, particularly since automotive parts often cross the border several times for different processes.
Jon also commented that the President will also want to send a message to China that he remains tough on trade, stating “I think he will not be afraid to implement the tariffs and extract whatever concessions or actions he believes are the end goals with Canada and Mexico. He’s going to want to back up the talk. He has to telegraph that toughness to China.”
Jon’s inclusion in the article shows he is recognized for his wide-range of knowledge and experience in providing practical guidance to clients navigating the complexities of international business, trade, and compliance. The January 2, 2025 article follows Jon being featured in the November 7, 2024 Buffalo Business First article, titled “FCPA violations can cost millions. Here’s how to avoid them,” in which he discussed the Foreign Corrupt Practices Act and the recent penalty settlement of Buffalo-area company Moog, Inc.
For more information about Yormick Law’s Customs & Import Controls Practice, and its Foreign Corrupt Practices Act (FCPA) & Antibribery Practice, please visit here and here.
