Canadians could soon be paying more for a range of products as tariffs on items from 72 countries take effect January 1, 2015. The list of countries that will see their tariffs rise includes major exporters like Brazil, China, Indonesia, Mexico, Singapore and South Korea, according to a report from CBC journalist Laura Payton.
The changes will come just after the Canadian government introduced a bill that would give the Competition Bureau the power to investigate price differences between Canada and the United States, Canada’s biggest trade partner. The proposed bill would compel companies to provide documents to back up their pricing. Often, prices in Canada for the same item are higher than those in the United States.
The change in tariffs for the 72 countries was part of the 2013 federal and is expected to net $300 to $350 million for the federal government.
According to the CBC report, it’s likely the cost of those tariffs will be covered by consumers rather than manufacturers and retailers.
More information:
CBC News – Conservative-planned tariff increases take effect Jan. 1 on goods ranging from toothbrushes to bikes – here
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