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

The federal government's latest order said companies in health and security sectors can seek tariff relief, as well as covering imports of goods used in manufacturing, processing and food and beverage packaging. Photo by JASON REDMOND/AFP via Getty Images/Postmedia files

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 est