News Summary
New York has introduced a resource guide to support businesses affected by tariffs, addressing rising operational costs and decreased Canadian tourism. Governor Kathy Hochul’s initiative includes updated duty rates, a list of customs brokers, and resources for export assistance. Reports show significant financial losses for companies like Alcoa, while a survey indicates a 66% decline in customers from Canada for tourism businesses. The state aims to provide tailored support to help businesses navigate these economic challenges.
New York City — The state of New York has launched a new resource guide aimed at supporting businesses that have been impacted by tariffs. This initiative comes amid growing concerns among small and mid-sized business owners about rising operational costs and reduced tourism, particularly from Canadian visitors. Governor Kathy Hochul has taken action in response to these concerns, emphasizing that no business should be forced to close due to unfair taxation practices.
The resource guide includes essential information for business owners, such as updated duty rates at ports of entry, a comprehensive list of licensed customs brokers, details about duty-free products, and resources available for export assistance. This could prove vital for businesses that are struggling to adapt to the changing economic landscape spurred by recent tariff policies.
Reports indicate that companies like aluminum manufacturer Alcoa, which operates a facility in Massena, have experienced substantial financial losses due to tariffs on imports from Canada, with estimates of losses reaching around $20 million. Similarly, the North Country Golf Club has reported a noticeable decline in business, which they attribute to a drop in Canadian tourism. This trend is concerning, given the significant economic impact that Canadian visitors have on local businesses, particularly in tourism-driven regions.
To better understand the effects of tariff policies, Governor Hochul has also initiated a survey for business owners. This survey seeks to gather information on how recent tariff announcements and threats regarding Canada have influenced business operations, allowing for more tailored support from the state.
Since the implementation of tariff policies under former President Donald Trump, there has been a marked decrease in cross-border traffic from Canada. In May, the number of Canadian visitors dropped significantly, with 400,000 fewer visitors recorded compared to the same time in 2024. The Ogdensburg Bridge and the Champlain crossing reported a 30% decrease in traffic during the same month, highlighting the tangible effects of the tariffs on cross-border commerce and tourism.
A survey conducted by the North Country Chamber of Commerce revealed that 66% of tourism businesses reported a decline in customers from Canada. Additionally, the economic strain caused by these tariffs and declining tourism has led one in four businesses in the region to consider staff reductions. This potential cut in workforce highlights the far-reaching implications of the current policy environment on business stability.
In the tourism sector specifically, reports indicate that reservations are down at key establishments such as hotels, campgrounds, local marinas, and golf courses, which have traditionally relied on Canadian visitors for a substantial portion of their business. The decline in Canadian traffic poses a significant threat to the livelihoods of many businesses dependent on this demographic.
Overall, the state’s new resource guide and the accompanying survey reflect an acknowledgment of the challenges faced by New York businesses as a result of tariffs and changing tourism patterns. The state aims to provide tailored support and resources to help these businesses navigate difficult economic circumstances, ensuring that they remain viable and can continue to operate despite rising costs and decreased customer traffic.
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Additional Resources
- The New York Times: Trump Tariffs
- Wikipedia: Tariff
- The New York Times: Stocks, Tariffs, EU, Mexico
- Google Search: Trump tariffs
- Reuters: Global Markets Wrapup
- Encyclopedia Britannica: Trade
- The New York Times: Trump Tariffs and Global Trade Deals
- Google News: Tariffs
Author: STAFF HERE NEW YORK WRITER
NEW YORK STAFF WRITER The NEW YORK STAFF WRITER represents the experienced team at HERENewYork.com, your go-to source for actionable local news and information in New York, the five boroughs, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as New York Fashion Week, Macy's Thanksgiving Day Parade, and Tribeca Film Festival. Our coverage extends to key organizations like the Greater New York Chamber of Commerce and United Way of New York, plus leading businesses in finance and media that power the local economy such as JPMorgan Chase, Goldman Sachs, and Bloomberg. As part of the broader HERE network, including HEREBuffalo.com, we provide comprehensive, credible insights into New York's dynamic landscape.
