Tariffs: A list or system of duties imposed by a government on imported or exported goods.
You provide a service, not goods. You will be unaffected by any tariffs.
this post was submitted on 25 Jan 2025
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I do understand that part. I guess more specifically, would an American company selling insurance in Canada get hit with tarrifs? I guess that really depends on the American and Canadian governments
That actually depends on whether it is, technically, the same company. Often, an American company will have a subsidiary, a partner company, or joint venture co-owned by a local company. Especially in the insurance industry, there's a lot of financial regulation that requires how a company operates.
Edit to add: If you're at Allstate Canada, I believe it's technically a different company than the U.S. one, due to how each country's insurance rules work. I'm not sure if one owns the other, or if the Canadian one is an independent licensee of the brand.
I'll have to look into it. It's not a huge company and its still partially in startup mode so I'm not sure how they'd have set it up :/. I know the different markets are definitely not self sustaining companies at the very least. I think the Canadian office just manages CAD payroll and some of the legal details of operating here.
Also: definitely not Allstate. Much much smaller company that deals in cyber
There's a lot of gray area in software development. Depending on a lot of variables, you MAY be "providing a service" to do custom work, or you MAY be "exporting intangible goods" (software).
So it's a huge maybe. A lot of it depends on how the tariff rules are written and put into effect.
The rules can get VERY complex. The U.S. has a variety of offices related to different aspects of international trade. For example, the Office of the U.S Trade Representative reports directly to the president and is responsible for advising on trade. The International Trade Administration is (a bureau within the U.S. Department of Commerce) works to ensure American businesses have access the global markets without unfair foreign government business practices. And that doesn't even get into the U.S. Department of State's international interests, or private lobbyists such as the U.S. Chamber of Commerce.
There will be no easy answers. Even when rules come out, the various agencies will take weeks or months to figure out how to interpret and enact the rules. Sometimes, clear sounding things end up having a ton of nuance. If anyone offers you an easy answer, don't listen to them.
(Source: I spent years working at the Department of Commerce.)
Ah thank you, I appreciate your answer. I guess what you're saying is that I'll have to wait and see how it turns out?
Yup. That's the short answer. I hope the context made it easier to understand why.
That makes sense. I guess it'll be good to have my resume up to date just in case 😅