Good news for helium producers as Canada and Mexico avoid new tariffs

Canada and Mexico have avoided the new 10% global tariffs issued by the US – but only because they have been targeted under previous measures.

Goods which comply with the United States–Canada–Mexico (USMCA) agreement continue to be exempt, but both countries remain in the US line of sight on tariff charges.

Much of the American tariff scheme on Canada will stay the same: a blanket 25% on all goods, except those under the existing free trade agreement. Energy and potash is tariffed at a lower 10%, while a 25% levy on Canadian steel and aluminium remains in place.

Phil Kornbluth, from Kornbluth Helium Consulting, said the latest announcement was good news for Canada’s helium producers.