Department of Finance Canada

Rule Changes

Implementing tariff remission policy

For three decades, the United States and Canada operated under free trade agreements that made their border the world's busiest commercial crossing, with nearly $2.7 billion in goods flowing between them daily. That era ended on February 1, 2025, when President Trump imposed 25% tariffs on Canadian goods. One year later, America's effective tariff rate has climbed to 16.9%—the highest since the Smoot-Hawley Tariff Act deepened the Great Depression in 1932.

Updated Jan 31