Following tariffs imposed on Canadian steel and aluminum by the US, the Government of Canada responded with tariffs against steel and aluminum imports effective July 1, 2018.
With Canadian manufacturers in a number of industries reliant on these imports and hit hard by the tariffs, the Federal Government subsequently announced the United States Surtax Remission Order on October 11, 2018. Companies can now request reimbursement of duties/tariffs paid on steel and aluminum products deemed to be in short supply within Canada.
On December 19, 2018, updates to the Remission Order were announced that would:
- expand the list of steel and aluminum products eligible for reimbursement on duties/tariffs
- offer new relief for companies importing products pursuant to contractual obligations
- offer new relief for companies with imported steel products already in transit before October 25, 2018 (when tariff rate quotas on seven classes of steel goods took effect)
For steel and aluminum products under ongoing short supply in Canada, tariff relief will be granted indefinitely. For those under temporary short supply, relief will be granted until April 30, 2019.
See the Department of Finance's Backgrounder - Targeted Relief for Canadian Businesses from Countermeasures on Certain U.S. Imports for further information and details.
For information and resources on insurance and risk management for manufacturers, please contact a CapriCMW Risk Advisor.