Canada Retaliates With New Surtaxes Imposed On Goods Imported From The U.S.
On Friday, August 7, 2020, in response to the newly announced U.S. tariffs on Canadian aluminum products, Canadian Deputy Prime Minister, Chrystia Freeland, announced a "reciprocal, balanced dollar-for-dollar" countermeasure. To that end, the Department of Finance has opened a consultation for Canadian businesses to provide their concerns or support to the proposed countermeasures.
The proposed countermeasure is a 10% surtax that will take effect on September 16th, 2020, and applies to a variety of products amounting to $3.6 Billion CAD dollars. These products include, but are not limited, to:
- Aluminum wire
- Aluminum ores
- Refrigerators
- Bicycles
- Metal Office Furniture
- Golf Clubs
A complete list of the proposed products is found on the Department of Finances webpage “Notice of intent to impose countermeasures action against the United States in response to tariffs on Canadian aluminum products"
We strongly encourage all companies who import products from the U.S. to review this page and submit their impact statements to the Department of Finance prior to September 6, 2020, to ensure the government has the input they need to impose a surtax that does not negatively affect Canadian Industry.
Watch this space for updates on this evolving story.
