National Public Radio (NPR) quotes Amy Magnus, Deringer’s Director of Customs Affairs and Consulting, regarding the impact of tariffs on US towns bordering Canada.
…HIRSCH: Douglas says there’s new uncertainty, especially for local manufacturers used to importing Canadian steel and aluminum, which the U.S. hit this month with tariffs of 25 and 10 percent. Douglas says it’s hard for the local factories to figure out pricing.
DOUGLAS: It used to be guaranteed prices for 90 days – now guaranteed price for seven days. So you’re just starting to see these little impacts on the way suppliers and people are doing business with each other. They’re hedging.
HIRSCH: A half-hour’s drive north of Plattsburgh on the windy border itself, customs broker Amy Magnus is watching trucks funnel into the U.S.
AMY MAGNUS: Hundreds of trucks cross the border every day. It’s very busy for a Wednesday.
HIRSCH: She’s on the U.S. side. Her firm, A.N. Deringer, handles cross-border paperwork and the formalities for companies importing and exporting goods. Her clients are dealing with a lot of uncertainty. She says the new tariffs really took them by surprise.
MAGNUS: And these contracts are negotiated sometimes a year in advance, maybe even longer.
The interview and transcript is available on NPR’s site.