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Yesterday, the federal government published this press release. According to it, they introduce a temporary 6-month 25%-tariff relief for goods imported from the U.S. that are used in Canada in
It provides immediate relief to a broad cross-section of Canadian businesses that must rely on U.S. inputs to support their competitiveness and to entities integral to Canadians’ health and safety, such as hospitals, long-term care facilities and fire departments. |
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The relief is good news. Its temporary nature is bad news. What can you do during the next six months?
Diversify Supply ChainsOur partner, Win Global, specializes in helping businesses diversify their export markets and supply chains. Learn more about supply chain diversification here and submit your inquiry.
Given the impact of new U.S. tariffs and shifting global trade dynamics, having a well-planned supply chain and export strategy is more essential than ever. Now is the time to act.
Apply for Permanent Tariff Relief
Unlike this temporary relief, the Canada Tariff Remission Program can provide your business or organization with permanent relief from the Canadian 25%-duties and refund the duties already paid. A lengthy application is required but worth the effort, especially if your business doesn’t qualify for temporary relief.
Refund Customs Duties Already Paid
The Customs Duty Drawback Program had been around for decades before tariff wars started. It refunds the duties you’ve already paid if you exported the product you have imported to Canada and paid customs duties (as is or as part of another product). You can claim the duties paid as far as 4 years back since the day of importation.
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