Federal revenues from customs import duties rose 144.5 per cent to $1.04 billion in March from a year earlier, the Finance Department reported on Friday. (The Logic)

Talking point: The federal government slapped 25 per cent counter-tariffs on $30 billion worth of U.S. goods on March 4 in response to the initial broad-based tariffs U.S. President Donald Trump linked to fentanyl and then on another $29.8 billion on March 13 after he restored duties on steel and aluminum. The Liberal campaign platform included $20 billion in revenue from counter-tariffs this year. The revenue reported in the Fiscal Monitor, a monthly publication on the government’s fiscal performance, is the first look at the amount of money coming in. It does not capture any revenue from counter-tariffs on autos or the impact of the six-month relief for U.S. imports used in Canadian manufacturing and other key sectors, which both came in April.