Tariffs were imposed by Canada and the United States on Tuesday, with the American tariffs being a blanket 25 per cent on all goods except energy, which is a 10 per cent tariff. Here in Canada, the response was the imposition of targeted 25 per cent tariffs on specific items imported from the U.S.
The tariffs will affect business imports coming into Canada, goods sent through mail or courier services, and goods brought by those coming into Canada that exceed their personal limits.
The Canada Border Services Agency, when asked what the process will be for the application of tariffs, clarified in a written response that they will be enforcing the tariffs on items coming into Canada.
For companies bringing goods into Canada, they will need to report the tariff at the time of importation. This will mean the business will need to pay the tariff, along with any other customs duties and taxes.
For individuals who are coming into Canada, such as a person who makes a trip to Minot for a weekend to go shopping, they will still have their personal exemptions that apply. However, for any goods that exceed the exemption limits, the tariffs will apply and will need to be paid at the border.
The CBSA is advising all travelers to have their receipts and travel documents ready when they arrive at the border. Have all receipts and travel documents ready when you arrive at the border. To help speed up the process, they also advise to fill out an advance declaration to make the process quicker.
The process for businesses includes self-assessing the tariff when importing goods. Then, they report the tariff when completing their customs declaration.
The CBSA stated they are working with other organizations and partners, including the Universal Postal Union, to make sure the tariff changes are implemented smoothly across all import types.
You can find a complete list of the items that are affected by the targeted tariffs on the Finance Canada website.