- Reduced Steel Import Quotas: Canada will reduce tariff rate quotas (TRQs) on steel imports effective December 26, 2025, lowering levels for non-FTA countries to 20% and for FTA countries to 75% of 2024 volumes, with a 50% surtax on over-quota imports.
- New Global Tariff on Derivatives: A new 25% global tariff will be applied to the full value of specific steel-derivative products from all countries, including items like certain iron shapes, doors, windows, and fasteners, effective December 26, 2025.
- Remission Program Changes: The remission program for Canadian counter-tariffs on certain US imports will phase out, expiring on January 31, 2026, though goods for automotive, aerospace, and aluminum products will retain eligibility.
Source EY
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