U.S. counter-tariffs help Canada bank $617M more in import duties than last March
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In March, the federal government slapped retaliatory tariffs on billions of dollars in U.S. goods entering Canada — costs that are paid by Canadian businesses importing the items.
The Liberal party projected during the recent federal election campaign that counter-tariffs against the United States would raise an estimated $20 billion over 12 months.
Finance Minister Francois-Philippe Champagne said in an interview with CBC last week that the figure in the Liberal platform was 'a projection at a moment in time' and noted the tariff situation has been changing rapidly.
The Liberals are forgoing publishing a spring budget but have promised a fiscal update in the fall.
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