Plastics largely left out of new round of Canadian manufacturing tariff cuts
Finance Minister Jim Flaherty is eliminating another $32 million in annual tariffs on some of the goods used in Canadian manufacturing - but this time, not much, if anything, will relate to plastics manufacturing.
Finance Minister Jim Flaherty is eliminating another $32 million in annual tariffs on some of the goods used in Canadian manufacturing – but this time, not much, if anything, will relate to plastics manufacturing.
Canadian manufacturers will no longer have to pay customs duties to import key inputs used in food processing, furniture and transportation equipment. The list of tariff-free items includes apple juice concentrate and other mixtures used to make drinks, hardware for furniture, parts used to make trailers and transport equipment, gelatin capsules for pharmaceuticals, and conveyor belts.
The announcement is designed to be a continuation of the government’s 2010 commitment to make Canada a tariff-free zone for industrial manufacturers, and is part of Ottawa’s grand plan to foster job growth. The 2010 announcement related more directly to plastics, as the government eliminated tariffs on industrial inputs and machinery – including plastics processing equipment. More than 1,500 items in total were affected, and, according to the government, delivered cost savings of over $400 million per year.