The long threatened tariffs are finally here, well some of them anyway. There was going to be a 25% tariff on Canadian exports into the U.S. and a 10% tariff on our energy exports. It's been delayed again and  it’s a wait and see game now as to what ones will be fully implemented and what will be pulled back. 
 

Many economists and government leaders are saying this could all be just a trade negotiation tactic. It would be a way to force Mexico and Canada to come back to the table and renegotiate the United States–Mexico–Canada Agreement, otherwise known as the USMCA. That agreement used to be called NAFTA, and it was renegotiated once before and changed in 2020 to the USMCA. Others are surmising it could be a way to encourage businesses to move their headquarters to the United States to avoid having to pay that tariff. That would certainly have an impact on jobs and the economy in Canada.
 

Whatever the reasoning is behind the tariffs the Canadian government, as well as some provinces, have said they are going to retaliate. One thing will be certain, there will be no winners in this trade war. Well, no countries that win at any rate. There will likely be a lot of investment opportunities because of it and Faisal and the PKAG team are keeping an eye out for those to help protect their clients and their portfolios.
 

What should investors do right now? As Dave likes to say, “don’t panic and make a financial decision based on emotions.” Especially important when in, or near, retirement. When you don’t have a steady working income anymore, any financial misstep you make could set you back years. That said, it could also improve your situation depending on the advice you get. The PKAG team always stresses getting the proper financial advice before making a decision and it’s always a good idea to get a second, or third, opinion. There’s risk in any decision and you just need to know if you are prepared to handle the volatility until the situation rights itself.
 

The PKAG team often reassures their clients that there’s a difference between what impacts your portfolio and what impacts the cost of living or the economy. What might be bad for you at the store, might not be bad for you in your investments.
 

Bottom line, if you’re in, or near retirement then reach out to the PKAG team. Even if you have another advisor somewhere else, we’d be happy to take a look at your portfolio and tell you where you stand with it.