Canada Extends Tariff Relief for Selected US Imports
(MENAFN) Canada has announced an extension of certain exemptions from its retaliatory tariffs on American products, while expanding the range of imported goods eligible for the relief.
Finance Minister Francois-Philippe Champagne confirmed the changes in a statement Monday, explaining that the measures are intended to provide additional assistance to Canadian companies and employees affected by US tariffs while promoting the purchase of domestically manufactured products whenever possible.
The general exemption program, referred to as horizontal remission, has been extended for another year until June 30, 2028. Its coverage will also be expanded to include non-steel products used in mining, quarrying and oil and gas extraction, as well as all goods purchased by public education institutions, including organizations operating under mandates from Indigenous communities.
The Canadian government said it intends to gradually withdraw exemptions for products that can be consistently obtained from domestic suppliers.
The Finance Ministry added that specific assistance will remain available to businesses facing exceptional circumstances that make continued purchases from the United States necessary. Such situations include domestic shortages of particular products or existing contractual commitments requiring companies to obtain supplies from US vendors.
Finance Minister Francois-Philippe Champagne confirmed the changes in a statement Monday, explaining that the measures are intended to provide additional assistance to Canadian companies and employees affected by US tariffs while promoting the purchase of domestically manufactured products whenever possible.
The general exemption program, referred to as horizontal remission, has been extended for another year until June 30, 2028. Its coverage will also be expanded to include non-steel products used in mining, quarrying and oil and gas extraction, as well as all goods purchased by public education institutions, including organizations operating under mandates from Indigenous communities.
The Canadian government said it intends to gradually withdraw exemptions for products that can be consistently obtained from domestic suppliers.
The Finance Ministry added that specific assistance will remain available to businesses facing exceptional circumstances that make continued purchases from the United States necessary. Such situations include domestic shortages of particular products or existing contractual commitments requiring companies to obtain supplies from US vendors.
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