On March 4, the US imposed tariffs of 25% on Canadian goods and 10% on Canadian energy exports bound for the US. (A previously-announced 25% tariff on aluminum and steel is expected to take effect on March 12.) In response, the Government of Canada announced retaliatory measures featuring a 25% tariff on $30 billion in goods imported from the US, covering food, apparel, footwear, pulp and paper, and more. If the US-imposed tariffs remain in place, Canadian tariffs on an additional $125 billion in US products are scheduled to take effect in 21 days. They are expected to stay in place until the US trade action is withdrawn.
Our priority is understanding how the Canadian government’s response to the US tariffs may affect our American clients. We will monitor the situation closely throughout this period and are ready to answer any questions our clients may have. Follow our LinkedIn, X, and blog for updates on this (and other) important trade matters.
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