The federal government received $749 million in revenue from customs import duties in September—a sharp drop after Prime Minister Mark Carney lifted most of Canada’s retaliatory tariffs on U.S. goods. (The Logic)
Talking point: Import duties added about $6.5 billion to federal coffers from April to September, according to the Fiscal Monitor published Friday. The Finance Department linked the 142 per cent increase over the same period last year to counter-tariffs on U.S. goods, but it is well below the $20 billion the Liberals projected in their election platform for this fiscal year. On Sept. 1, Ottawa repealed counter-tariffs on $44.2 billion worth of U.S. consumer products, but kept 25 per cent duties on steel, aluminum and autos. Relief from counter-tariffs on U.S. steel used in manufacturing, processing, food and beverage production or agriculture will expire on Jan. 31, except for auto and aerospace manufacturing.
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