Duty Rate Reductions for Canada-EFTA While CETA Faces Further Delays July 4, 2017 Effective July 1, 2017, duty rate reductions will be applied to specific commodities when imported under the Canada-European Free Trade Association (EFTA) Free Trade Agreement. Countries falling under the Canada-EFTA are Iceland, Norway, Switzerland and Liechtenstein. Tariffs reduced: The following reductions in duty rates for specific products under the Most Favoured Nation (MFN) and General Preferential Tariff (GPT) will also take effect on July 1: Meanwhile, the Canada-European Union (EU) Comprehensive Economic and Trade Agreement (CETA) is facing further delays due to concerns expressed by the dairy and pharmaceutical industries. It was planned that the the majority of CETA’s initiatives would be provisionally applied by July 1, 2017. However, with unresolved industry issues, it is unclear as to when the agreement will come into force. In a previous post we provided an overview of the significance of Canada’s Free Trade Agreements and Sanctions as well as a quick reference guide to agreements already in force and those under negotiation or being explored. When importing or exporting, it is always a good idea to research the country you plan to do business with. Contact us today for more information on Canada’s Free Trade Agreements or assistance with your import/export requirements.
