The Honourable Jim Flaherty, Minister of Finance, today announced that the Harper Government has lowered tariffs on certain environmental goods, which will reduce costs for businesses, support trade, job creation and economic growth, and contribute to the health of the environment.
“I am pleased to build on our Government’s record of tariff relief for Canadian businesses,” said Minister Flaherty. “By lowering costs for businesses, we are enhancing their competitiveness, helping create jobs for Canadians and supporting Canadian consumers.”
On September 9, 2012, leaders of the Asia-Pacific Economic Cooperation (APEC) agreed to lower the Most-Favoured-Nation rates of customs duty on 54 environmental goods to no more than 5% by 2015. This will result in enhanced access to Asia-Pacific markets for Canadian producers of environmental goods.
Reflecting Canada’s openness to trade, Canada already had a Most-Favoured-Nation rate of 5% or lower on most environmental goods. Today, the Harper Government is reducing the remaining environmental goods’ tariffs to 5%. This action applies to solar water heaters and certain measuring instruments. By taking this action and meeting its APEC commitments almost two years ahead of schedule, the Harper Government continues to show global leadership in trade liberalization.
Since 2009, the Harper Government has eliminated tariffs on close to 1,900 tariff items and provided more than $525 million in annual tariff relief to Canadian businesses and consumers. Canada is also the first G-20 country to become a tariff-free zone for industrial manufacturers.
Details on today’s tariff relief appear in the March 27 edition of the Canada Gazette, Part II.
