Each day TFO Canada publishes a sample of trade news on the Canadian import market along with any new, updated or changed regulations and legislations regarding international trade; countries in which TFO Canada offers services and on the export sectors which it promotes.
CANADA: Tariff preferences withdrawn for 72 countriesMonday, November 04, 2013 > 09:31:08
Canada has announced plans to withdraw tariff preferences for 72 developing countries from the beginning of 2015.
Benefits under the country’s General Preferential Tariff (GSP) are being withdrawn with respect to all goods originating from 72 nations, including Argentina, Brazil, China, Hong Kong, India, Indonesia, Russia, Singapore, South Africa, South Korea, Thailand and Turkey.
The changes, which take effect from 1 January 2015, will not apply to goods already in transit to Canada at that time.
The Canadian government added that, while tariff preferences will still apply to 103 countries, it intended to review the matter every two years, withdrawing preferences for any country classified as high or upper-middle income by the World Bank for two years running.
Withdrawal would also result for any country with a 1% or greater share of world exports for two consecutive years, according to figures from the World Trade Organization (WTO).
Exemptions to the changes include products imported from Least Developed Countries (LDCs) using inputs from ineligible countries, which can still qualify for duty-free status as LDCs; and apparel produced in countries when using Canadian textiles, which will still qualify for reduced duty rates.