Unimaginable even just a year ago, the beginning of 2025 sees Canada under attack from our closest neighbour and former ally. Not only have the extremely unjust tariffs levied by the United States upended our Canadian economy, but they have destabilized markets around the world including within the U.S. itself. Even worse are the constant attacks on our nation’s sovereignty with threats of making Canada the 51st state.
We need to fight back however we can. Every proud Canadian should be considering what we can do to stand up for our country, be it a token gesture or a significant act. We acknowledge that after so many years of building ties and becoming co-dependent with America, it would be unrealistic and impossible to simply cut all association with them at the drop of a hat. Yet we need to do something to take a stand, although what that stand consists of is an individual choice based on each person’s circumstances. Rich and I realized that we needed to pick our battles, so we reviewed our spending and investing habits to see where we might be able to make a difference.I read an article in the Globe and Mail about Canadian investors divesting themselves from their holdings in US companies. This puts a new spin on the term “sin stock”, which is usually reserved for companies dealing in tobacco, liquor, gambling, weapons and sex. We might have considered doing this if not for the fact that we don’t own any US stock and have not done so for a few years. Our strategy has been to live off the income generated from our dividends. To do so effectively, we need to be able to know how much the dividend payouts will be each quarter. Adding the currency fluctuation of US dividends would have introduced too much uncertainty. For a while, we held one or two American stocks so that we could accumulate US cash. But then we realized we could achieve the same goal by holding Canadian stock that paid in US funds, (e.g. AQN.T, BIP.UN, SOBO.T). Being Canadian companies, there was the added bonus that these dividends qualify for the dividend tax credit. Therefore, selling US stock was not where we could make a stand since we didn’t own any.
Next, we looked at joining the movement to boycott US products whenever we could. We would only buy American if there are no other options and if we truly could not substitute with another product or just forgo that product all together. We would shop Canadian whenever possible or at least buy non-American products from other countries. In the winter, when local fresh fruit is not available, instead of buying Driscoll’s strawberries from the U.S., we could opt for blueberries from Peru. We have taken to squinting at product labels to determine their place of origin, or using phone apps such as OSCANada, Buy Beaver, Shop Canada, Buy Canadian, etc. to help determine whether a product is from Canada by scanning the bar code. Not all products are recognized but the more common ones should be.For a while, we even boycotted Loblaws in favour of Farm Boy and Longos because these latter stores were prominently adding signs indicating which products are Canadian and even putting some of those products on sale. By contrast, Loblaws had no signs and were trying to tempt us by putting their US products front and centre at cut-rate prices. Just recently, Loblaws finally seems to have wised up and now they also label and identify Canadian products. Thank goodness some of our favourite snacks and drinks turn out to be 100% Canadian, including Hawkins Cheezies made in Bellville Ontario, Covered Bridge Potato Chips from Waterford, New Brunswick, and Great Gentleman Ginger Beer whose headquarters is in Laval, Quebec.We are especially trying to support businesses or companies who go the extra mile for Canada. We will be buying Chapman’s ice cream after they declared on Instagram that they would absorb any extra costs caused by tariffs. Some of their ingredients are from the US, but they are actively looking at other sources. We will try to dine at restaurants like FK and Taline, who advertised that they have taken all American wines off their menu. Peace By Chocolate, an award-winning Nova Scotia-based chocolate bar producer founded by former Syrian refugees have produced a chocolate bar wrapped with our new hockey-based battle cry “Elbows Up”. We decided to purchase a bunch of these bars to pass out to our friends and neighbours, both to spread the word and to support a Canadian company.
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