Canada eliminates all tariffs on machinery, equipment and inputs used in industrial mfg

Monday April 20, 2015
Written by Manufacturing AUTOMATION
Apr. 20, 2015 - The Government of Canada has eliminated all remaining tariffs on machinery, equipment and inputs such as screws, electric motors and pipe fittings for industrial manufacturing, which it says will benefit Canadian businesses by lowering the cost of imports used to produce manufactured goods.

It noted that the tariff elimination measure was first announced in Budget 2010, the Government estimated that it could create 12,000 jobs across Canada. Since 2009, more than 1,800 tariffs have been eliminated in the industrial manufacturing sector. This announcement will specifically benefit small and medium-sized businesses that rely on global supply chains and are looking to diversify their export markets. These changes will provide $450 million in annual tax relief for Canadian manufacturers.

“The elimination of all tariffs on imported goods and equipment, along with other tax measures, is providing Canadian manufacturers with a significant competitive advantage. Manufacturers across the country are using these tax savings to invest in innovation, growth and jobs,” said Jayson Myers, president and CEO, Canadian Manufacturers & Exporters (CME).

According to the government, Canada is the first G20 nation to eliminate all tariffs on machinery, equipment and inputs used in the industrial manufacturing sector.

“Today’s announcement builds on our commitment to making Canada one of the best countries in the world to do business. We are confident that our low taxes, global trade opportunities and clear investment rules will ensure that Canada’s manufacturing sector remains globally competitive,” continued James Moore, minister of industry.

Comments 

 
0 #3 Hockey 2015-04-28 08:18
Duty for machinery into China - 25%
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0 #2 Al Bering 2015-04-23 09:37
I couldn't agree more with Mark's comments. Working for one of the few remaining manufacturers in Welland, within my career span alone I have seen UCAR, John Deere, Atlas Steels, Gencor, Wabaso and Welmet Industries just to name a few all pack up and leave the area. All those products are now being made off shore. Exactly where are our children and grandchildren going to work. And if they do find a job it will likely not pay much more than minimum wage. How will they ever afford to live in the homes we built during out lifetime. Our government has basically thrown away the life style we and our parents worked so hard to give us.
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0 #1 mark 2015-04-22 16:38
Here we go, another shot to Canadian industry! How out of touch is our Canadian government! Do they think the savings will be passed down from the importer......not. Do they think by making industrial goods & equipment abroad cheaper to bring in will increase production and jobs here...not!! All the technology that remains so far, just received a faster ticket out of the country. I am all for FAIR TRADE but not FREE TRADE!! I look at the eighties/nineties and see so many production plants were producing in Canada and now look at how most have turned into Warehouses or Condo's. Let's get these short sighted Conservative/Liberal Governments out of office.
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