Canada to launch program to relieve businesses of tariff hit
Published On Feb 2, 2025, 2:57 PM
Canada is launching a program to provide tariff relief for Canadian businesses facing new tariffs imposed by the U.S. The program allows businesses to apply for refunds or relief from tariffs if they cannot source goods domestically or from alternative non-U.S. suppliers. This decision comes in response to recent retaliatory tariffs introduced by the U.S. government against Canadian goods.
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The introduction of a remission process signifies continued tensions in U.S.-Canada trade relations. Companies that rely on Canadian imports or conduct business across the border may face volatility. Affected sectors could see shifts in stock performance: look out for import-sensitive industries.