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Import Tariffs on Many High Tech Goods Removed as of July 1, 2016

Published: 07/18/2016

By Stephen I. Selznick

As part of Canada’s commitment to agreed updates under the World Trade Organization Information Technology Agreement, Canada has removed import tariffs on 54 High Tech classes of goods effective July 1, 2016, and has committed to remove import tariffs on a further 49 High Tech tariff good classes over the next three years.

While these Canadian import tariffs have not been extensively prohibitive (capping at about 8%) unlike, for example, in the dairy products industry (where over-access tariffs run as high as 241%-274.5%), the removal of these Canadian tariffs is also met by the complementary removal or intended removal of import tariffs in foreign jurisdictions (principally in Asia - China, South Korea and Japan – and then in the U.S.) on the importation of similarly classed High Tech goods. In Asia, these tariffs have been notoriously prohibitive.

This should prove of significant benefit to Canadian High Tech performers looking to establish or expand into foreign markets (principally in Asia), and should be considered as a positive evaluation factor by those seeking to finance these sorts of Canadian High Tech ventures.

The complete product list can be found here.

A link to the Canada Gazette reference with backgrounder can be found here.