Trump lifts steel, aluminum tariffs on Canada, Mexico

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[WASHINGTON] President Donald Trump on Friday announced a deal to lift US tariffs on steel and aluminum imports from Canada and Mexico that had created friction between the neighbours and blocked a new North American free trade agreement. Read more at The Business Times.

Canada and Mexico initially were exempted from the tariffs Trump enforced using a national security argument, as part of his hardline trade tactics.

"Obviously these continued tariffs on steel and aluminum and our countermeasures represented significant barriers to moving forward with the new Nafta agreement," he said, referring to the 24-year-old North American Free Trade Agreement. Some key members of the US Congress had said they would not agree to vote for the three-country free trade pact unless the Trump's metals tariffs ended.Democratic US Senator Chuck Schumer applauded the decision to remove the metals tariffs, but said there are other concerns about the USMCA.

According to the agreement, Canada and Mexico will withdraw all complaints lodged against the United States at the World Trade Organization.

Source: News Formal (newsformal.com)

 

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