58% of U.S. imports exempt from Canada's retaliatory tariffs

Almost 60 per cent of imports from the United States hit by Canadian counter levies are now eligible for relief, representing a “ significant dilution of Canada’s tariff response ,” says a new report.

Oxford Economics Ltd. estimated that 58 per cent of U.S. imports subject to retaliatory tariffs could be eligible for temporary relief from $96 billion in duties, which many economists had warned would lead to rising inflation and slowing economic growth.

“While this (new estimate) is higher than our initial estimate of an effective reduction in Canada’s counter tariffs to nearly zero, it’s still a significant dilution in Canada’s tariff response that will lessen the hit to the economy and rise in prices from the trade war,” Tony Stillo, Oxford director of Canada Economics, and eco