With changes in the political landscape of the United States of America, new tariffs have been introduced that will impact Canadian consumers and businesses.
What is a Tariff?
A tariff is a tax placed on imported goods, paid by the company purchasing the goods to the American government. To compensate for these costs, businesses often raise prices, meaning consumers ultimately pay more. These tariffs will cause changes in international trade and the cost of everyday products.
Coping with Financial Stress & Uncertainty
It is completely normal to feel stress or anxiety about economic changes and financial uncertainty. Financial strain can be a major source of stress, but remember that there are resources and supports available to help you navigate these challenges. At Insight, our practitioners can help you to understand and manage your stress, anxiety, and emotions.
Here are some more tips to manage stress an uncertainty regarding tariffs:
- Limit your media consumption to just enough to stay informed. Take some time for yourself, go for a walk, or spend time with friends & family doing things that you enjoy.
- Avoid getting into discussions about the topic if you think they have the potential to escalate to conflict. Be mindful of the frequency with which you’re discussing the news.
- Remember that life will go on. People have always survived difficult life circumstances. There is no reason why this situation cannot be similar. Avoid catastrophizing & maintain a balanced perspective.
- Build your resilience – we can learn to adapt well to stress – how have your coped with stressors before? Add resilience tools to your tool bag to manage life’s adversities.
Removing yourself from situations that cause stress is not always possible. In these cases, you will need to turn to stress management. This can consist of many different techniques and therapies, all of which will be decided upon by both you and your therapist. Counselling can help you find solutions that work for you, whether that means building coping strategies or navigating your worries. We are here to help you regain a sense of control in these unpredictable times.
Supporting Local Businesses
One way to lessen the impact and support the Canadian economy is by choosing local products whenever possible. Here are a few simple ways to shop locally:
- Buy coffee beans from a local coffee shop
- Shop at Canadian-owned grocery stores
- Read the labels of products to see where they are made
- Purchase dairy and meat from local farmers
- If local options aren’t available, explore imports from non-U.S. countries
You can also find great tips from social media communities where shoppers share their local finds! By making small changes, we can support Canadian businesses and strengthen our economy together.
If you are feeling stress or anxiety about world events, know that our skilled therapists are here to help. Book online or give us a call at 780-461-1717 to connect with a Edmonton or Calgary-based therapist today!