Tariff relief may be on the way, but it’s not coming from Washington.
On Monday, the Canadian government’s Department of Finance announced plans to extend a suspension of duties on certain American industrial imports in order to support Canadian workers impacted by the tit-for-tat trade war between North American neighbors.
François-Philippe Champagne, Minister of Finance and National Revenue said that Canada would extend a “horizontal remission” for tariffs on goods from the United States, including steel and aluminum, by one year, until June 30, 2028. The relief will extend to products used for mining, quarrying and natural gas extraction, manufacturing and processing, agricultural production and packaging for food and agricultural goods.
What’s more, the government is granting “targeted tariff relief” for certain other U.S. imports that are in short supply in the Canadian market. Importers will be allowed to apply for exemptions on goods that don’t have an analogous source within Canada.
It’s not all good news for U.S. exporters, though. Based on feedback from the domestic industry and in order to encourage the use of homegrown inputs, Champagne said existing relief measures would be removed on Dec. 1 for certain trailers, and on Feb. 1 for a range of wire extrusions and paperboard products.
Detailed product schedules will be published by the Department of Finance moving forward.
“As Canadian businesses and workers continue to face growing global uncertainty, our government is committed to protecting and supporting them.
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