Tariffs have long been a cornerstone of economic policy, shaping trade dynamics and industries alike. For the commercial real estate sector, their ripple effects are significant, influencing costs, economic stability, and investment strategies. From the protectionist policies of the 19th century to modern trade agreements like NAFTA and USMCA, tariffs have evolved but remain a powerful force in today’s global economy.

At the Toronto Real Estate Forum, industry leaders underscored the enduring relevance of tariffs, with David Frum highlighting their impact under recent protectionist policies. For Canadian investors, understanding how tariffs drive construction costs and affect trade flows is critical. As CanFirst Capital Management notes, these challenges also present opportunities — from strategic acquisitions to capitalizing on limited new supply. Tariffs are more than a trade tool; they are a lens through which to navigate and thrive in the complexities of the real estate market.