On February 2, the Canadian government announced that the country will provide a mechanism to reduce retaliatory tariffs against the United States for domestic businesses.
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| On February 1, Canada announced a 25% tariff on goods from the US, with a total tariff package value of up to CAD 155 billion, in retaliation for President Donald Trump's tariff policy. Illustrative photo. (Source: Reuters) |
According to the announcement, Canadian businesses can apply for tax reductions or refunds, as long as they meet certain conditions.
Companies that cannot purchase goods domestically or from other foreign sources in the United States are eligible to participate in the mechanism.
In addition, the Ottawa government considers relief on a case-by-case basis for “exceptional situations that could have a serious impact on the Canadian economy.”
“We want to maintain our relationship with the United States, but in the face of unjustified tariffs on our goods, we are forced to act to protect our economy, our workers, and our businesses,” Treasury Secretary Dominic LeBlanc said.
Previously, on February 1, the Canadian government announced a 25% tariff on goods from the US with a total value of up to 155 billion CAD in retaliation for President Donald Trump's new policy.
Canada's first tariff package is expected to take effect on February 4, with goods worth a total of CAD 30 billion, applying to beverage products, cosmetics and paper.
The North American country will then impose a second round of tariffs worth CAD 125 billion, which will be implemented in 21 days. Details on the products subject to tariffs, including vehicles, metals, agricultural products, beef, pork and dairy products, will be announced later.
Source: https://baoquocte.vn/canada-giam-thue-cho-doanh-nghiep-de-tra-dua-my-303030.html
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