Trump to lift aluminum, steel tariffs on Canada and Mexico

Trump to lift aluminum, steel tariffs on Canada and Mexico

Kerry Wise
May 18, 2019

"Families will know that their jobs are just a little more secure".

At roughly the same time, China, another leading USA pork importer, also placed high retaliatory tariffs on pork, driving prices down even further.

The U.S. will be "selling our product into those countries without the imposition of tariffs or major tariffs - big difference", Mr. Trump announced in a speech Friday afternoon before the National Association of Realtors. But after the country placed a 20 percent tariff on pork, trade between the two nations dropped dramatically, forcing American prices down. In the USA, meanwhile, congressional Democrats are still calling for changes to the deal before they will vote for it. He covers USA politics and current affairs.

The deal is a foreign policy win for Trudeau, whose oversight of Canada's most important worldwide relationship has been complicated by a bellicose American president unafraid of flinging personal insults, accusing a key neighbour of threatening national security and accusing Canadian farmers of taking advantage of unfair trading practices.

"We stayed strong", he said. They were hurting Canadian consumers, Canadian workers, and American workers and American consumers.

Canadian Prime Minister Justin Trudeau spoke with Trump on Friday, their third such call in about a week.

Trudeau was joined at that announcement by Foreign Affairs Minister Chrystia Freeland, Minister of Finance Bill Morneau, Minister of Innovation, Science and Economic Development Navdeep Bains, Minister of Democratic Institutions Karina Gould, Minister of Seniors Filomena Tassi, Liberal MP for Hamilton East-Stoney Creek, Ont.

That level, Trump said, "will improve the financial viability" of the USA steel industry in the long term.

It's unknown if the tariff detente will jar loose the long-standing logjam in Congress, where conventional wisdom says many Democrats are reluctant to give President Donald Trump even a whiff of victory as the 2020 election approaches.

As talks proceed, the US appears poised to add pressure on Japan.

The U.S. has also come to an agreement to lift its steel and aluminum tariffs on Mexico.

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The U.S. tariffs were a 25 per cent steel tariff and 10 per cent tariff on aluminum, while Canada's countermeasures amount up to $16.6 billion in imports of steel, aluminum, and other products from the Unites States, subjected to either a 25 or 10 per cent surtax.

Ottawa has also been working to demonstrate to Washington that it has taken steps to stem the flow of cheaper Chinese metals into the Canada. CNBC reported on Friday that the next round of US-China negotiations were "in flux", with both sides refusing to compromise.

Last May, Commerce Secretary Wilbur Ross said the tariffs were necessary to prevent a flood of cheap Chinese steel into the USA through its NAFTA partner countries, and conceded they were aimed at accelerating trade talks.

The reports cited statistics that US -owned companies' share of the USA automobile market has declined from 67 percent, or 10.5 million units produced and sold in the United States, in 1985, to 22 percent, or 3.7 million units produced and sold in the United States, in 2017.

Nearly a year ago, the U.S. Department of Commerce slapped tariffs of 25 per cent on imports of steel and 10 per cent on aluminum, citing national security interests.

In a proclamation released Friday, Trump agreed with a Commerce Department study that found some imported cars and trucks are "weakening our internal economy" and threaten to harm national security, but it stopped short of naming specific vehicles or parts.

The Alliance of Automobile Manufacturers, a trade group representing General Motors Co, Volkswagen AG, Toyota Motor Corp and others, said the companies remained "deeply concerned that the administration continues to consider imposing auto tariffs".

That's according to sources in the US and Canada who spoke on condition of anonymity ahead of an announcement. But with members in Canada, the union does not back the president's global approach, which would interfere with border-crossing North American supply chains.

OTTAWA -Canada and the United States have reached an agreement to lift steel and aluminum tariffs, a year after they were first imposed, reviving momentum for the renegotiated USMCA deal to be ratified.

"While companies may celebrate a top-line without a hard quota, the devilment will be in the details".