25% and 10% surcharges are now imposed on various U.S. products
As announced by the Canadian government on May 31, 2018, surcharges of 25% on certain U.S. steel products and 10% on certain aluminum and other U.S. products will be imposed as of July 1, 2018. You can find the final list of products affected by these surcharges here.
In total, U.S. imports equivalent to $16.6 billion will be overtaxed. Foreign Affairs Minister Chrystia Freeland noted that the list was a “measured” and “perfectly reciprocal” response to surtaxes that have been imposed on Canadian steel and aluminum imports by the U.S. government since June 1, 2018.
According to the announcement by Canada’s Department of Finance, surtaxes on U.S. products “will remain in place until the United States eliminates trade restrictive measures against steel and aluminum products from Canada.”
The Canadian government has also announced a plan to assist Canadian steel and aluminum companies affected by U.S. government surtaxes. In total, $2 billion will be provided. For its part, the Government of Quebec announced $100 million in assistance for SMEs in the aluminum and steel sectors.
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