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Tax Alert 2025 No. 55, 8 December 2025
On 26 November 2025, Prime Minister Mark Carney announced that Canada will reduce tariff rate quotas on certain steel imports and impose a new global tariff on a specific list of steel-derivative products. These measures, which are effective on 26 December 2025, are aimed at transforming the Canadian steel industry.
The federal government will also begin to phase out the remission program for Canadian counter-tariffs on certain US imports, beginning on 31 January 2026.
In this Tax Alert, we provide a brief summary of certain measures announced as part of this announcement.
Access the full content in the PDF attached below.
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Issue No. 55, 8 December 2025
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Previous issues
2025 budget implementation bill no. 1 introduced in House of Commons
On 18 November 2025, Bill C-15, Budget 2025 Implementation Act, No. 1, received first reading in the House of Commons.
Budget 2025 introduces revised transfer pricing rules
On 4 November 2025, the Minister of Finance and National Revenue, François-Philippe Champagne, tabled the 2025 federal budget, which included substantial draft legislative changes to Canada’s transfer pricing rules in section 247 of the Income Tax Act (the Act).
On 4 November 2025, the Minister of Finance and National Revenue, François-Philippe Champagne, tabled the federal budget 2025. The budget contains tax measures affecting individuals and corporations.
CBSA extends surtax remission for two additional months
On 17 October 2025, the Canada Border Services Agency (CBSA) released a revised version of Customs Notice 25-19, United States Surtax Remission Order (2025) (Customs Notice), which contains new information about the application of the United States Surtax Remission Order (2025).
CBSA releases notice of preliminary determinations with respect to cast iron soil pipe
On 9 October 2025, the Canada Border Services Agency (CBSA) made preliminary determinations of dumping and subsidizing respecting cast iron soil pipe originating in or exported from the People’s Republic of China (China), in accordance with subsection 38(1) of the Special Import Measures Act (SIMA).
CBSA releases notice of final determinations with respect to PET resin
On 15 September 2025, the Canada Border Services Agency (CBSA) made final determinations of dumping with respect to polyethylene terephthalate (PET) resin originating in or exported from certain jurisdictions, pursuant to paragraph 41(1)(a) of the Special Import Measures Act.
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