The U.S. will impose steep tariffs on imports from Canada, the EU, Mexico, and Brazil by August 1. Canada’s CPI rose 1.9% in June, driven by rising clothing and durable goods costs. Liquidator A.D. Hennick & Associates sees growth as retailers offload surplus stock. Over half of retailers are boosting generative AI investments to enhance efficiency. Canada’s trade gap narrowed to $5.9B in May on rising exports and lower imports.
Tariff Talks Stretch Into August as Global Tensions Climb
The U.S. plans to impose steep tariffs on imports from Canada, the EU, Mexico, and Brazil by August 1. Canada and the EU are delaying retaliation in hopes of a deal, while Mexico is optimistic about reaching an agreement. Brazil has responded strongly, pledging to match the U.S.’s 50% tariff rate.
Source: Supply Chain Dive
June Inflation Rises, Casting Doubt on Rate Cuts
Canada’s CPI rose 1.9% in June as gas prices fell more slowly and durable goods and clothing costs climbed. Food inflation eased slightly, but core prices stayed firm, dampening expectations of a rate cut. Analysts say solid job data and trade uncertainty could keep the Bank of Canada on hold.
Source: Retail Insider
Inventory Glut Drives Liquidation Surge in Toronto
Toronto liquidator A.D. Hennick & Associates is booming as retailers offload excess stock driven by pandemic-era overordering and poor inventory planning. Founder Alex Hennick points to brands’ reliance on single buyers like HBC as a key issue. With unsold goods flooding the market, liquidation firms are thriving.
Source: Retail Insider
Retailers Boost Gen AI Spend for Speed and Service
More than half of retailers are increasing investments in generative AI to improve customer experience and streamline operations. Companies like Walmart and H&M use AI for shopping assistants, recruiting, and backend efficiency. While adoption grows, some consumers remain wary of data use and automation.
Source: Retail Dive
Canada’s Trade Deficit Narrows in May
Canada’s trade gap fell to $5.9 billion in May as exports rose 1.1% and imports dropped 1.6%. Strong gains in metals and consumer goods helped offset a decline in energy exports, and trade with non-U.S. markets hit a record high. Still, tariff tensions with the U.S. cast a shadow on future trade prospects.
Source: Inside Logistics
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