Harper Government fulfills budget commitment that will help create 12,000 jobs
April 17, 2015 – Ottawa – Industry Canada
The Government of Canada has eliminated all remaining tariffs on machinery, equipment and inputs such as screws, electric motors and pipe fittings for industrial manufacturing. This measure will benefit Canadian businesses by lowering the cost of imports used to produce manufactured goods, making Canada a more attractive place to do business. The Government expects these changes will create 12,000 jobs across Canada.
Since 2009, more than 1,800 tariffs have been eliminated in the industrial manufacturing sector. This announcement will specifically benefit small and medium-sized businesses that rely on global supply chains and are looking to diversify their export markets. These changes will provide $450 million in annual tax relief for Canadian manufacturers.
Having access to global trade opportunities is an important source of competitive strength for Canadian businesses. Eliminating tariffs reduces import costs, allowing businesses to enhance their stock of equipment and improve their access to domestic and foreign markets.
Office of the Minister of Industry