Selected Government Memorandums, Notices and Decisions
Here is a selection of relevant memorandums, notices, and decisions published this week. If you have any questions, be sure to contact your Axxess specialist.
Reporting of goods under the Proceeds of Crime (Money Laundering) Terrorist Financing Act
On April 1, 2025, the Proceeds of Crime (Money Laundering) and Terrorist Financing Reporting of Goods Regulations (the Regulations) and amendments to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (the Act) come into force.
WTO global goods trade barometer remained stable in January
According to the World Trade Organization’s (WTO) latest Goods Trade Barometer, global goods trade appeared to remain steady in the fourth quarter of 2024 and looked set to continue growing in the first months of 2025.
Canadian railways’ total freight volume was up 8.0% in January
Statistics Canada reports that the volume of cargo carried by Canadian railways reached 32.1 million tonnes in January, up 8.0% from January 2024. Year-over-year gains in carloadings of wheat, coal and canola in January 2025 contributed to the overall increase.
Global air cargo demand declined by 0.1 percent in February
According to data for February released by the International Air Transport Association (IATA) global air cargo total demand, measured in cargo tonne-kilometers (CTK), declined by 0.1% compared to February 2024 levels (+0.4% for international operations). This marks the first decline since mid-2023.
Canada and Mexico are not on list of new U.S. “reciprocal” tariffs
U.S. President Donald Trump issued a list of countries that will be subject to “reciprocal” tariffs, which vary by country with rates of 10% to 50%.
Canada will impose a 25% tariff on all non-CUSMA-compliant vehicles imported from the U.S.
Canada’s Prime Minister Mark Carney announced on Thursday that Canada will match the U.S. 25% tariff on vehicles that are not compliant with the North American free trade deal (CUSMA).
Selected Government Memorandums, Notices and Decisions
Here is a selection of relevant memorandums, notices, and decisions published this week. If you have any questions, be sure to contact your Axxess specialist.
Canada initiates WTO dispute regarding Chinese duties on agricultural, fishery products
Canada has requested World Trade Organization (WTO) dispute consultations with China concerning Chinese measures that impose additional import duties on certain agricultural and fishery products from Canada.
Consultations on trade measures to prevent diversion of steel products into Canada
The Government of Canada announced the launch of a 30-day public consultation on possible trade measures to protect against the threat of diversion of steel products from third countries into the Canadian market as a result of the recent trade measures by the U.S.