Steel Products
Canada announces remission process for Chinese steel tariffs
Written by Ethan Bernard
October 21, 2024
The Canadian government announced a remission process for businesses seeking relief from the recently announced tariffs on Chinese steel and aluminum products and electric vehicles.
“To ensure that Canadian industry has sufficient time to adjust supply chains, remission will provide relief from the payment of surtaxes, or the refund of surtaxes already paid, under specific and exceptional circumstances,” the Department of Finance Canada explained in a statement on Friday.
“The government is ensuring Canadian workers and businesses are not unduly burdened by surtaxes on imports from China,” it added.
It further noted that remission won’t be granted for goods intended for resale in the same condition in the US.
Circumstances where remission would be considered include:
- “Situations where goods used as inputs, or substitutes for those goods, cannot be sourced either domestically or reasonably from non-Chinese sources;
- Where there are contractual requirements, existing prior to Aug. 26, 2024, requiring Canadian businesses to purchase Chinese inputs into their products or projects for a specified period of time; and,
- Other exceptional circumstances, on a case-by-case basis, that could have significant adverse impacts on the Canadian economy.”
Collection of the 25% tariffs on Chinese steel and aluminum products begins on Oct. 22, while the 100% tariffs on EVs started on Oct. 1.
Recall that earlier this month, China challenged the tariffs at the WTO.
Ethan Bernard
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