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Ottawa collects extra $617M from import duties in March as counter-tariffs hit U.S.

In March 2025, Ottawa collected over $1 billion in customs import duties, more than doubling the previous year's revenue due to new tariffs on U.S. Goods.
The increase in revenue occurred after the federal government implemented counter-tariffs targeting billions of dollars' worth of American goods imported into Canada in response to U.S. trade measures.
Canadian businesses importing these goods bear the costs, while Finance Minister François-Philippe Champagne acknowledged the rapidly changing tariff situation in a recent CBC interview.
Champagne described the Liberal platform’s $20 billion counter-tariff revenue estimate as “a projection at a moment in time,” with the government delaying a spring budget and promising a fiscal update in fall.
The significant import duty increase signals continued trade tensions with the U.S. That could affect Canadian businesses and fiscal planning throughout 2025.

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