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Toronto, 17 May, 2019 – The Canadian Federation of Independent Business (CFIB) is pleased by today’s announcement that the Canadian and U.S. governments have ended steel and aluminum tariffs and other retaliatory measures.
“The tariffs imposed on both sides of the border have hurt many small firms in Canada,” said Corinne Pohlmann, CFIB’s senior vice-president of national affairs. “Today’s announcement is great news and we congratulate the Canadian government on its successful negotiations.”
The end of the tariffs will have an important impact on the Canadian economy as a whole. Small firms are involved with the steel and aluminum sectors as suppliers and producers, but the impact of the tariffs were also felt by businesses involved in transporting and selling steel and aluminum products as well. Businesses that faced retaliatory tariffs were also hit hard and today’s news will provide welcome relief.
“We’re glad that the Canadian government persisted on working to remove these tariffs,” added Monique Moreau, CFIB vice-president of national affairs. “Instability caused by trade tensions can be difficult for smaller firms to weather and we encourage the government to continue diversifying and strengthening our international trade partnerships.”
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Milena Stanoeva, CFIB
The Canadian Federation of Independent Business (CFIB) is Canada’s largest association of small and medium-sized businesses with 110,000 members across every industry and region. CFIB is dedicated to increasing business owners’ chances of success by driving policy change at all levels of government, providing expert advice and tools, and negotiating exclusive savings. Learn more at cfib.ca.