A local Exeter business is keeping a close eye on international trade changes, but for now, things are running smoothly.
Nathan deBoer, who is the Extrusion Supervisor and a co-owner of Syfilco Limited, says his company hasn’t had to make major changes yet, even though U.S. tariffs are a hot topic.
Syfilco is an industrial knitting business that makes special fabrics used in many industries. One of its main products is filter sock for drainage systems.
While deBoer says most of their products are safe under the USMCA trade agreement (between Canada, the U.S., and Mexico), there’s one area where tariffs have caused headaches: repairing parts.
Many of their machines use parts made in Europe. Even if they send the part to the U.S. for repair, they could get hit with a 10% tariff, based on where the part was originally made, not where it’s being sent. That means if a part from Switzerland costs $20,000, they would have to pay $2,000 just to send it to the States to get fixed.
To avoid those steep costs, the company has been using something called a temporary import bond. That form lets them ship parts into the U.S. for repair without paying the full tariff.
So far, deBoer says Syfilco hasn’t had to change anything about how it does business. The main difference now is the extra paperwork and phone calls with their customs broker.
Right now, there’s a pause on new tariffs, but no one knows what will happen next. A big announcement is expected on July 9th, and DeBoer says they’ll adjust if they need to.
For now, though, it’s business as usual and deBoer has one simple request for Canadians: buy local.