Toronto, March 3, 2022
In addition to other financial sanctions, Canada has revoked "Most-Favoured Nation status" for Russia and Belarus as trading partners, meaning imports into Canada will be subject to a 35 percent tariff, and making Canada the first country to do so since war broke out in Ukraine last week.
This Order results in the application of the General Tariff for goods imported into Canada that originate from Russia or Belarus. Under the General Tariff, a tariff rate of 35 percent will now be applicable on virtually all of these imports. Russia and Belarus will join North Korea as the only countries whose imports are subject to the General Tariff.
Canada is the first country to take this step, Deputy Prime Minister and Finance Minister Chrystia Freeland said Thursday, adding that the only other nation that Canada subjects to this high tariff and deprives of other associated benefits is North Korea.
"We are using tools which no one would even have imagined deploying just a week ago, and there's more to come," Freeland said.
The Minister of Transport, the Honourable Omar Alghabra, the Minister of Foreign Affairs, the Honourable Mélanie Joly, and the Minister of Fisheries, Oceans, and the Canadian Coast Guard, the Honourable Joyce Murray, announced that the Government of Canada intends to ban Russian-owned or registered ships and fishing vessels in Canadian ports and internal waters. The ban is expected to be in effect later this week through orders made pursuant to the Special Economic Measures Act.
For more information, please call Brian Rowe, Director – Customs Compliance & Regulatory Affairs at (905) 882-4880, ext. 1213.