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Tax Alert 2025 No. 59, 18 December 2025
On 12 December 2025, the Minister of Finance and National Revenue announced various measures to support the Canadian steel industry. More specifically, these measures will reduce tariff rate quotas on certain steel imports and impose a new global tariff on a specific list of steel-derivative products. The federal government will also begin to phase out the remission program for Canadian counter-tariffs on certain US imports.
Additional information with respect to these measures has now been included in amending orders and a new Notice to Importers.
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Issue No. 59, 18 December 2025
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Previous issues
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On 18 November 2025, the federal government tabled Bill C-15, Budget 2025 Implementation Act, No. 1, which included several measures related to accelerated capital cost allowance (CCA) and other immediate expensing measures.
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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.
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