FERGUS – Since the US administration implemented blanket tariffs on Canada and Mexico Monday, one main question has been raised across Canada: How will this affect us? For more on the financial impacts, The Grand at 101 chatted with a local guru.
Ecclestone Financial Group in Fergus has been a pillar of the Centre Wellington community for decades. President Ted Ecclestone says there are a handful of people who will be affected by the tariffs in place, but panic is not the answer when it comes to your finances.
Ecclestone, who estimates the tariffs will only last six-to-eight months, says for those investing, choose where to do so wisely.
Ecclestone says “panic is not a good thing” when referencing the financial barriers Canadians may face throughout this trade shock.
He added trusting verifiable sources is a very important thing when navigating this situation.
Talk to those managing your money and make sure to utilize actively managed portfolios, Ecclestone says, as he too begins to manage uncharted waters.
