Start Date: 2025-02-01
End Date: 2025-02-07

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Canada Responds with Tariffs on U.S. Goods

In response to the U.S. imposing tariffs on Canadian goods, Canada announced 25% tariffs on $155 billion worth of U.S. products, effective February 4, 2025. The first phase includes tariffs on $30 billion of goods, such as beverages and cosmetics. A second list, including passenger vehicles and steel, is pending a 21-day public comment period. The government also introduced a remission process for Canadian businesses to seek relief from these tariffs.

A day after these announcements, Canada and the United States agreed to delay the imposition of our respective tariffs on imported goods.

Sources: Announcements: www.canada.ca, Announcements: www.canada.ca

Investment in Quebec's Critical Minerals Sector

Natural Resources Canada announced a $43.5 million investment to develop Quebec's critical minerals sector. Projects include the Rose Lithium-Tantalum Mining Project and the Dumont Nickel project. These initiatives aim to support the green and digital economy by enhancing infrastructure and developing domestic value chains.

Sources: Announcements: www.canada.ca