Today, the Honourable François-Philippe Champagne, Minister of Finance and the Honourable Anita Anand, Minister of Innovation, Science and Industry announced the launch of a 30-day public consultation on possible trade measures to protect against the threat of diversion of steel products from third countries into the Canadian market as a result of the recent trade measures by the U.S.
Yesterday, the Honourable François-Philippe Champagne, Minister of Finance joined Chris Forbes, Deputy Minister of Finance, to host a briefing with more than 400 Canadian industry and labour stakeholders, as well as provincial and territorial representatives, on Canada-U.S. economic issues. Arun Alexander, Canada’s Deputy Ambassador to the United States of America, also joined the call.
Canada is strongest when all orders of government work together. The Minister welcomed the active role of the premiers and their provincial and territorial governments in addressing the tariff issue.
The Honourable François-Philippe Champagne, Minister of Finance, will host a meeting with provincial and territorial Finance Ministers in Montréal, Quebec.
Effective March 13, 2025, the Government of Canada is imposing 25 per cent tariffs on $29.8 billion in products imported from the United States (U.S.).
Following a dollar-for-dollar approach, Canada is imposing, as of 12:01 am, March 13, 2025, 25 per cent reciprocal tariffs on a list of steel products worth $12.6 billion and aluminum products worth $3 billion, as well as additional imported U.S. goods worth $14.2 billion, for a total of $29.8 billion. The list of additional products affected by counter tariffs includes tools, computers and servers, display monitors, sport equipment, and cast-iron products.
In Budget 2024, the Government of Canada reiterated its commitment to maintain liquid foreign reserves at or above three per cent of nominal gross domestic product.
Today, the Government of Canada announced the upcoming implementation of new regulatory amendments to strengthen Canada’s Anti-Money Laundering and Anti-Terrorist Financing (AML/ATF) framework and ensure that it is even more robust and effective in addressing threats of financial crime.
