Friday, March 4, 2022

Canada hikes tariffs on Russian goods

Canada has removed Russia and Belarus from its list of most favoured nations meaning that tariffs on their goods now shoot up to 35 per cent.

Among Canadian purchases is oil imported to East Coast refineries.

Canada also announced Thursday that it will provide Ukrainian forces with more arms, including rocket launchers and hand grenades.

Until now, North Korea was the only country without Canada’s most favoured nation status.

Canada had about $1.2 billion in imports from Russia and about $23 million from Belarus in 2020, according to Statistics Canada.