Tax Alert – Canada
Steel safeguard surtax/remission of surtaxes on certain US origin goods
No. 35, 16 October 2018
On 11 October 2018, the Department of Finance announced a new global safeguard surtax with exceptions for certain free-trade partners, lesser-developed countries entitled to the general preferential tariff and the United States. The measure is intended to prevent diversion of foreign steel products into Canada and also to assist in negotiations with the US regarding removal of the US special tariffs on steel and aluminum. At the same time, Finance announced a product-specific Remission Order made 10 October 2018 for relief in specific circumstances from the surtax on steel and aluminum products (and certain pleasure vessels) subject to the retaliatory surtax measures on products originating in the US.
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Tax Alert 2018 Issue No. 35
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