QSA's Week in Retail (#5, 2025)
Canada announces $155B tariff package; StatsCan retail prices for December; Trade Tribunal appeal on furniture imports.
Start Date: 2025-02-01
End Date: 2025-02-07
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Canada Introduces $155B Tariff Countermeasures
On February 1, 2025, the Government of Canada unveiled a $155 billion tariff package in response to U.S. tariffs on Canadian goods. Finance Minister Dominic LeBlanc and Foreign Affairs Minister Mélanie Joly announced 25% tariffs affecting $30 billion worth of U.S. goods, including appliances, apparel, and footwear, effective February 4. An additional $125 billion in goods, such as vehicles and steel, will undergo a public comment period. The tariffs aim to defend Canadian interests and support affected businesses. A remission process is in place for exceptional relief requests, with further details forthcoming.
Two days after this announcement, Canada and the United States agreed to delay the imposition of our respective tariffs on imported goods.
Sources: Announcements: www.canada.ca
