I hear ya, up here in Canada add about 40% to cost for exchange rate and taxes.
Back in the 70's when I was regularly playing in Canada, we were required to present a manifest when crossing the border, detailing every piece of equipment and its value - plus post a bond that we'd forfeit if anything was sold in Canada. On return to the U.S. we'd often be forced to completely unload the trucks in the parking lot while a border patrol agent ticked off each item on the list.
A conversation with a music store owner in Vancouver confirmed that their wholesale costs for guitars and amplifiers was much higher than any U.S. retailer. Gibson and Fender required them to carry every product, even the slow movers, further decreasing their profit margin. Consequently, a Strat was a luxury item for Canadian musicians and not surprisingly, also not a big seller at music stores.
But there was a lively black market for smuggled and stolen instruments. A guy walked up to me at a gig, pointed to our mixer and asked "what do you call that thing?". I said "that's a mixer". To which he replied "you want one?". Uh, no, I said. They're not worth very much. Later that week, we sold it before returning to the states.