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End of steel, aluminum, and retaliatory tariffs welcome news to small businesses


May 21, 2019
By Canadian Federation of Independent Business

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.”