Ottawa, November 27, 2011
Archived - Government Fosters Jobs and Growth With More Tariff Cuts
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The Honourable Jim Flaherty, Minister of Finance, today announced further tariff relief for Canada’s manufacturers, which will eliminate 70 tariff items and is expected to save Canadian businesses about $32 million annually.
“This builds on our Government’s commitment in Budget 2010 to make Canada a tariff-free zone for industrial manufacturers,” said Minister Flaherty. “By lowering costs for these businesses, we are enhancing their ability to compete in domestic and foreign markets and helping them invest and create jobs here at home. This measure acts on our Government’s commitments under our low-tax plan for jobs and growth and reinforces our G-20 leadership in the fight against protectionism.”
This initiative eliminates customs duties on certain products used by Canadian businesses operating in a variety of manufacturing sectors including food processing, furniture and transportation equipment.
In Canada’s Economic Action Plan, the Government eliminated all tariffs on imported machinery and equipment and manufacturing inputs to make Canada a tariff-free zone for industrial manufacturers by 2015. In Budget 2010, the Government committed to consulting with Canadians to identify areas where further trade liberalization could take place. The tariff relief announced today is a result of those consultations.
Eliminating tariffs on goods used in manufacturing helps Canadian companies operating in a wide range of sectors by lowering their production costs. This will benefit Canadian manufacturers by increasing the competitiveness of their operations, thus contributing to a stronger economy. Since 2009, the Government has eliminated more than 1,800 tariff items and provided more than $435 million in annual tariff relief to Canadian businesses.
More information will be published in the December 7 edition of the Canada Gazette,Part II.
For further information, media may contact:
Mary Ann Dewey-Plante
Office of the Minister of Finance
Department of Finance
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