Manufacturing inputs: Ottawa cutting tariffs
OTTAWA: The federal government’s plan to eliminate all remaining tariffs on imported machinery, equipment and other inputs is good news for many manufacturers, but it could cause problems for others.
Public consultations will be held until Nov. 6.
Ottawa eliminated tariffs on some imported machinery in last January’s budget, which it estimated would reduce business costs by about $440 million over five years.
By phasing out tariffs (ranging from 2% to 15.5%) on all imported manufacturing inputs, the government estimates businesses will save another $250 million or more.
Click here for a list of the tariffs.