Canada collects $839M in steel and aluminum tariffs, but aid for sector mostly unspent

January 28, 2019

Foreign Affairs Minister Chrystia Freeland told an interviewer in Davos this week that once the U.S. drops its steel and aluminum tariffs, Canada will too, "30 seconds later."

Until that day comes, the extra taxation is pretty lucrative for the federal government. Finance Canada says $839 million was collected in the six months leading up to Dec. 31 from retaliatory tariffs on imported American steel, aluminum and other products.

Canada didn't start this tariff spat, and from the prime minister on down every Canadian official says he or she wishes it would end. The tariffs on both sides of the border have disrupted supply chains and added extra costs for consumers and businesses across a wide range of industries...

This was excerpted from the 27 January 2019 editon of CBC News.

Topic(s)

International Trade and Border Management

Information source

Canadian News Channel

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