(MENAFN- KNN India) New Delhi, Oct 21 (KNN) Canada has announced tariff relief on specific steel and aluminium imports fr0m the United States and China, aiming to ease pressure on domestic industries affected by global trade disputes.

The move is designed to ensure critical supply chains remain stable amid rising geopolitical and economic tensions.

According to a government notice, Ottawa amended its 2024 surtax remission order on Chinese imports to waive duties on certain steel and aluminium products that are not produced domestically. The revised policy came into effect on October 15, with additional updates expected on November 5.

Similarly, Canada has exempted select U.S.-origin metal goods-particularly those used in healthcare, national security, agriculture, manufacturing, and food packaging-fr0m counter-tariffs. These exemptions target essential materials needed to maintain uninterrupted production and supply.

Francois-Philippe Champagne, Canada's Finance Minister, described the policy as“a group of very specific products that are needed to enter Canada to maintain supply chains,” emphasising that the changes would have minimal impact on total tariff collections.

The decision reflects Canada's efforts to balance trade relations with two of its largest partners while safeguarding domestic industries. High tariffs over recent years have weighed on Canadian exports, particularly to the U.S. and China, prompting Ottawa to roll back some retaliatory measures.

By providing selective relief, Canada aims to stabilize industrial operations, reduce costs for manufacturers, and strengthen resilience against global supply disruptions. The move also signals a pragmatic approach to trade policy, focusing on economic continuity rather than escalation.

(KNN Bureau)

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