Advisors hope that the government's initiative to bridge the price gap between Canadian and U.S. goods - outlined in the 2014 federal budget released on Tuesday - will help Canadian retailers better position themselves in the global market.
The Conservatives promised to crackdown on multinational companies that charge Canadian consumers more their American counterparts on an wide-array of goods - from clothing to appliances - by implementing legislation that halts 'country pricing' - whereby different prices on the same brands are set in Canada and the U.S.
This is in response to complaints received from consumers about higher costs and price discrimination.
Finance Minister Jim Flaherty has also said the government will check up on the elimination of tariffs - some as high as 20 per cent - implemented last year on baby clothing and sports equipment.
The Retail Council of Canada says that the tariff cuts have resulted in lower prices for Canadian consumers.