Canada needs to review possibility of Tariff reductions

Canada needs to review its policies on tariffs and import taxes according to a report done by a committee of Canadian senators.

The report’s main focus was why Canadians pay more for the same product than Americans said the CBC.

The report listed transportation costs, a small Canadian market and tariffs as the main reasons for the price discrepancies.

According to the report, tariff reductions could help lower Canadian prices.

Finance Minister Jim Flaherty announced at a recent press conference that he would like to eliminate tariffs going forward.

Flickr Photo by: Ontario Chamber of Commerce

STORY WRITTEN BY: CHLOE DENEUMOUSTIER