The following is excerpted from today’s news release by the Department of Finance.
The Honourable Jim Flaherty, Minister of Finance, today announced that following a competitive bidding process, the Government of Canada has contracted Nielsen to monitor the level of savings for Canadian consumers through recently announced tariff relief measures.
On April 1, 2013, the Government removed tariffs on imported baby clothing and certain sports equipment, representing savings of $79 million per year for Canadian businesses.
“This tariff relief came with the expectation that businesses would fully pass these savings on, to benefit Canadian families,” said Minister Flaherty. “We have put an objective monitoring system in place and will report our findings to Canadians.”
Over the next year, Nielsen will be systematically verifying prices of a variety of products on which tariffs were eliminated on April 1, 2013. These products include baby clothing, ice skates, hockey equipment, skis, snowboards, golf clubs and other sporting goods. This undertaking will capture the price trend for items that benefited from the tariff relief as well as some items that did not, to test the link between tariff elimination and consumer prices. Nielsen will visit retail stores in Canada and the United States...
This news release is available in its entirety at: http://news.gc.ca/web/article-eng.do;jsessionid=ac1b105330d8a4320d98631543c094de8b0f73b382ee.e38RbhaLb3qNe34MbNv0?m=%2Findex&nid=762089.
Topic(s)
International Trade and Border Management
Information source
Global Affairs Canada (GAC)
Disclaimer
The foregoing information is provided for informational purposes only and is not intended as, nor should it be considered, professional advice or a substitute for conducting your own thorough research and review. Before making any decisions or taking any action based on the information provided, you should conduct your own independent investigation and/or seek professional advice from a qualified expert in the relevant field. The CSCB disclaims all liability for actions taken or not taken based on the information provided.