Interestingly, as the incoming Trump administration talks about piling on new tariffs to discourage imports and protect American jobs, the Canadian government quietly moved in the opposite direction over the holidays: eliminating tariffs on imported food ingredients. The decision was announced with a customs tariff order published December 28th, 2016, in the Canada Gazette describing how roughly 200 different tariffs on imported food ingredients would be repealed or amended. 

STORY CONTINUES BELOW

It is estimated that $ 48 million in tariffs have been collected annually on these products and that manufacturers will now be able to save more money as a result. The cuts officially took effect on January 16th, 2016.

STORY CONTINUES BELOW

Some food ingredients have already been entering Canada tariff-free under the North American Free Trade Agreement (NAFTA.), but Finance Canada estimates that about 57 percent of these imports have been subject to additional tariffs.

A long list of fruits and vegetables, cereals and grains, spices, fats and oils, food preparations, and chocolate products are now classified as duty-free.  However, nothing from the dairy, egg,  and poultry sectors are included. 

If you’re interested in learning more about this story, view the reliable source used to gather this info.

Featured image background source.