Say Hello to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)!
It has been just over one year since the first announcement of the steel and aluminum tariffs imposed by the United States and Canada has been implementing its own safeguards for better or for worse.
Not about to be outdone by the Canadian countermeasures and surtaxes on steel, the United States has begun its own dispute against Canada at the WTO.
After 13 months of negotiations, and much media attention, Canada, the United States and Mexico have reached a new agreement to replace NAFTA, the United States-Mexico-Canada Agreement (“USMCA”).
Canada has announced provisional safeguard measures of 25% on 7 steel products: heavy plate, concrete reinforcing bar, energy tubular products, hot-rolled sheet, pre-painted steel, stainless steel wire, and wire rod commencing on October 25, 2018.
Safeguard inquiry to follow…
On August 14, 2018, the Department of Finance announced the steps for the steps to prevent diversion of steel products into Canada, which will be begin with public consultations on the matter. There is currently an invitation to submit views on the matter. Will public input matter?
The Government of Canada is outlining a framework and process for how it will consider remission requests for the surtaxes on products that came into force on July 1, 2018. Under specific circumstances, remission allows for relief from the payment of surtaxes, or the refund of surtaxes already paid.
In response to the May 31, 2018 announcement of the US Tariffs on imports of certain steel and aluminium products from Canada at rates of 25% and 10% respectively, the Canadian Government is implementing its own countermeasures.
The Mode Specific Time Frames set out in Memorandum D17-1-4 Release of Commercial Goods, Appendix B will no longer apply. Memorandum D17-1-4 will be updated to reflect the new time frames for the release of commercial goods.