Department of Finance Canada announced a tariff remission process for Canadian businesses importing certain Chinese goods.
The process applied to surtaxes on Chinese electric vehicles, steel and aluminum products, and other covered goods where remission may be justified by specific business circumstances.
The federal government said remission would generally be transitional while supply chains adjust and could apply retroactively to the date the surtaxes took effect.
Despite softening global demand, China has increased its steelmaking capacity by 18.6 million metric tonnes (more than Canada's total production capacity) since 2018, making it the world's largest steelmaker with over 1 billion metric tonnes produced in 2023.