Canada: Our Retaliatory Tariffs Will Start At Midnight

Via press release from the Canadian government:

The Minister of Finance, the Honourable François-Philippe Champagne, today confirmed that Canada’s new countermeasures announced last week in response to the unjustified tariffs imposed by the United States on the Canadian auto industry will come into force at 12:01 a.m. EDT on April 9.

As the Prime Minister indicated on April 3, this includes: Twenty-five per cent tariffs on non- Canada-U.S.-Mexico Agreement (CUSMA) compliant fully assembled vehicles imported into Canada from the United States; Twenty-five per cent tariffs on non-Canadian and non-Mexican content of CUSMA compliant fully assembled vehicles imported into Canada from the United States.

A remission framework for auto producers that incentivizes production and investment in Canada, and helps maintain Canadian jobs, will also be implemented. Further details of this framework will be announced shortly.

Read the full press release.