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3w ago

Canada Pauses Select Counter-Tariffs on U.S. Imports

Finance Minister confirms relief on targeted goods for six months, while 70% of retaliatory measures remain in place.

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Canadian Prime Minister Mark Carney after his swearing-in ceremony on Tuesday. He campaigned in the recent election as the best candidate to handle the trade war. Photo: Getty Images via AFP
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Overview

  • Canada has temporarily suspended counter-tariffs on goods in sectors such as food processing, health, and national security for six months.
  • The pause, outlined on May 7 in the Canada Gazette, is intended to help Canadian companies adjust supply chains and reduce dependence on U.S. suppliers.
  • Finance Minister Francois-Philippe Champagne emphasized that 70% of Canada's retaliatory tariffs, amounting to C$43 billion, remain active.
  • The measures were a response to the U.S. imposing 25% general and sector-specific tariffs on Canadian imports, some of which have been suspended pending negotiations.
  • Opposition leader Pierre Poilievre criticized the government, claiming tariffs were quietly reduced to near zero, a claim Champagne denied as false.