Industry Update: Canada-U.S. Tariffs & Cost Recovery Programs
The federal government has announced a $29.8 billion retaliatory tariff package, effective March 13, 2025, including 25% reciprocal tariffs on:
- Steel products ($12.6B)
- Aluminum products ($3B)
- Other U.S. goods ($14.2B), including tools, computers, sporting equipment, and cast-iron products
This is in addition to the 25% tariffs on $30 billion in worth of American goods implemented on March 4. The second wave of tariffs, covering $125 billion in U.S. goods, is delayed until April 2 to coincide with the U.S. global reciprocal tariff package.
Support for Canadian Businesses
On March 7, the federal government introduced liquidity support mechanisms to help businesses affected by these tariffs. A relief request process for industries impacted by Canada’s retaliatory tariffs was also announced on March 4.
REALPAC’s Advocacy Efforts
We continue to work with the federal government on policy solutions to support commercial real estate and development, engaging with the Minister of Housing, CMHC, and senior leadership at Housing, Infrastructure and Communities Canada.
REALPAC is collecting feedback on exemptions and support requests until March 18. Members can share their input with REALPAC up to March 18th.
For more details, visit:
- Fighting for Canadian workers and businesses – Canada.ca
- Process for requesting remission of tariffs – Canada.ca
Contact:
Michael Brooks, CEO
mbrooks (at) realpac.ca | 416.642.2700 x225
