This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Retail Council Of Canada Welcomes Today As The First Step In Leveling The Playing Field For Retailers

OTTAWA, April 1, 2013 /CNW/ - Retail Council of Canada (RCC) recognizes today as a landmark day for retailers with the fulfilment of the government's commitment to eliminating tariffs on baby clothes and sporting and athletic equipment.

"We want to thank Minister Flaherty for delivering on his commitment and eliminating these tariffs as part of a joint pilot project with RCC," said Diane J. Brisebois, President and CEO, RCC. "These significant changes represent a win-win-win for consumers, retailers and our government by allowing our members to better compete with their US counterparts and keeping Canadian dollars in Canada."

As part of the government's Economic Action Plan 2013, tabled last week, the Minister announced " $76 million of tariff relief on baby clothing and sports and athletic equipment to benefit Canadian families and retailers" and challenged wholesalers, distributors and retailers to pass the savings on to consumers.

"Our members have reacted very positively to the announcement in last week's Budget," said Brisebois. "But I want to caution the public that they are not likely to see changes overnight.  Retailers have to deal with existing stock, complex contracts and pricing agreements so it may take a number of months before we start to see the benefits of these changes."

RCC has committed to work with the Department of Finance to monitor how the market reacts to these changes and will continue to advocate for the elimination of all outdated and unnecessary tariffs.

"The cuts in domestic tariffs implemented today are an important first step in ensuring that Canadian retailers can deliver the best value to our customers" Ms. Brisebois said.  She went on to caution that "the beneficial impact of these cuts cannot be undermined by other tariff changes announced in Budget 2013 that will see increased costs for imports for over 70 countries around the world."

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs