• About
  • Offices
  • Careers
  • News
  • Students
  • Alumni
  • Payments
  • FR
Background Image
Bennett Jones Logo
  • People
  • Expertise
  • Knowledge
  • Search
  • FR Menu
  • Search Mobile
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
View all
Practices
Corporate Litigation Regulatory Tax View all
Industries
Capital Projects Energy Funds & Finance Mining View all
Advisory
Crisis & Risk Management ESG Strategy and Solutions Governmental Affairs & Public Policy
View Client Work
International Experience
Insights News Events
New Energy Economy Series Business Law Talks Podcast Economic Outlook
ESG & the CIO Subscribe
People
Practices
Industries
Advisory Services
Client Work
About
Offices
News
Careers
Insights
Law Students
Events
Search
Alumni
Payments
Subscribe

Stay informed on the latest business and legal insights and events.

LinkedIn LinkedIn Twitter Twitter Vimeo Vimeo
 
Blog

Canada Selectively Withdraws GPT Benefits

April 01, 2013

On December 22, 2012, the Canadian government solicited views on the withdrawal of general preferential tariff (GPT) status from imports of beneficiary countries. It was proposed that the withdrawal would be discriminatory to the detriment of countries that are classified for two consecutive years as high income or upper-middle income economies according to the latest World Bank income classifications, or have a share of world exports that is equal to or greater than one percent for two consecutive years according to the latest World Trade Organization trade statistics. After a period of consultation, Canada proposes, in its 2013 Budget that it move forward with and withdraw GPT benefits from 72 high income or export competitive countries, including all G-20 nations. Changes will take effect on January 1, 2015, and will be extended for a period of 10 years. The economic condition analysis will be applied every two years and will be applied prospectively.

Countries benefiting from Least Developed Country Tariff status for textile and apparel that is partially contingent on GPT originating inputs will not suffer as they will continue to be able to rely on amended Rules of Origin which safeguard this ability.

It was stated by the government that the purpose of these changes is to reflect the significant shifts in the income levels and trade competitiveness of certain developing countries. Noteworthy from the elimination list are: Argentina, Brazil, Cuba, China, Hong Kong, Russia, the Republic of Korea, and Singapore. Query whether this will fuel a ramping up of FTA negotiations between South Korea and Canada?

This was seen coming for some time given shifting tides of global trade/economics. In addition, many of the eliminated countries benefit from other tariff relief regimes. This should be taken into account by importers into Canada for future sourcing purposes.

Download PDF

Fall 2022 Economic Outlook: Managing Risks and Taking Action

Related Links

  • Insights
  • Media
  • Subscribe

Recent Posts

Blog

Land Rich, Cash Poor: The Impacts of the PPCLA and [...]

February 06, 2023
       

Blog

What Canada's New Forced Labour Reporting Law (Bill [...]

February 06, 2023
       

Blog

Alberta Court Confirms Exclusive Jurisdiction of Labour [...]

February 03, 2023
       

Blog

Competition Bureau Seeks Feedback on Enforcement Guidance [...]

February 03, 2023
       

Blog

New CSA Exemption Relating to Proxy Requirements For [...]

February 03, 2023
       
Bennett Jones Centennial Footer
Bennett Jones Centennial Footer
About
  • Leadership
  • Diversity
  • Community
  • Innovation
  • Security
  • History
Offices
  • Calgary
  • Edmonton
  • Montréal
  • Ottawa
  • Toronto
  • Vancouver
  • New York
Connect
  • Insights
  • News
  • Events
  • Careers
  • Students
  • Alumni
Subscribe

Stay informed on the latest business and legal insights and events.

LinkedIn LinkedIn Twitter Twitter Vimeo Vimeo
© Bennett Jones LLP 2023. All rights reserved.
  • Privacy Policy
  • Disclaimer
  • Terms of Use
Logo Bennett Jones