ventureLAB Update on U.S. Tariffs

Dear ventureLAB community,

In the early days of President Trump's second term, significant changes have emerged that could affect founders in our network. This message aims to update you on the situation, our responses, and gather your input.

1. The Situation

On January 20th, President Trump initiated his "America First trade policy" with an Executive Order, which includes plans to review the USMCA (US-Mexico-Canada Trade Agreement) earlier than anticipated in April 2025. Moreover, he announced a series of tariffs: a blanket 25% on goods from Canada and Mexico, along with a 10% tariff on all international goods. Although these tariffs were scheduled to commence on February 3, their implementation was postponed until March 4, but they are now in effect. In response, the Canadian federal government has announced plans to impose tariffs on specific U.S. goods. For a comprehensive understanding of the implications of these tariffs, Startup Canada serves as a valuable resource.

2. ventureLAB’s Response

In light of these developments, our CEO is currently in Ottawa, engaging with key stakeholders and officials to discuss the potential effects of these tariffs on Canadian businesses, innovation, and investment. We aim to raise awareness among federal politicians and officials regarding the particular challenges that tariffs—especially retaliatory tariffs—pose for tech and hardware founders. The ventureLAB team is actively monitoring the situation and seeking opportunities to advocate for protective measures for our ecosystem. We will regularly provide resources via our newsletter to assist you in navigating these changes.

3. Your Input Matters

Our organization maintains ongoing communication with senior government officials focused on trade and economic development, and our CEO’s current discussions in Ottawa highlight the importance of entrepreneur feedback. We invite you to share your insights on how these developments affect your business directly. You can send your feedback to [email protected]; detailed responses will help us develop more tailored and effective proposals.

As circumstances evolve, we will continue to keep the community informed with updates similar to this message.

Thank you,
The ventureLAB Team