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Federal government planning tariff relief for Canadians, businesses; will depend on scope of Trump tariffs: sources

The Canadian federal government is preparing to offer tariff relief to both consumers and businesses in response to potential new tariffs from the United States, should Donald Trump win the 2024 presidential election. Sources indicate that the government's strategy will largely depend on the scope and nature of any Trump-imposed tariffs. This preparation comes in light of Trump's previous administration's trade policies, which included significant tariffs on Canadian steel and aluminum, leading to retaliatory measures from Canada. The government aims to mitigate the economic impact on Canadian industries and consumers by potentially adjusting its own tariffs or providing other forms of financial relief. However, the specifics of these measures will be tailored based on the details of any new U.S. tariffs, reflecting a cautious and reactive approach to international trade dynamics.

Read the Full bnnbloomberg Article at:
[ https://www.bnnbloomberg.ca/business/politics/2025/01/28/federal-government-planning-tariff-relief-for-canadians-businesses-will-depend-on-scope-of-trump-tariffs-sources/ ]