President Donald Trump on Friday announced a deal to lift U.S. tariffs on steel and aluminum imports from Canada and Mexico that had created friction between the neighbors and blocked a new North American free trade agreement.
Prevent the transshipment of aluminum and steel made outside of Canada or the United States to the other country.
"I'm pleased to announce we've just reached agreement with Canada and Mexico". The U.S. government imposed tariffs because the Liberals failed to take U.S. concerns about steel dumping and transshipment seriously.
U.S. Vice President Mike Pence said he would meet with Trudeau in Ottawa on May 30 to discuss "advancing" ratification. China has always been accused of flooding world markets with subsidized metal, driving down world prices and hurting USA producers. Canada and Mexico said they would not accept quotas, though one Canadian official said Ottawa would agree to a quota provided it was far higher than Canada's pre-tariff exports. The steel sector supports 22,000 direct jobs across Canada and the aluminum sector supports almost 10,000 direct jobs mostly in BC and Quebec, with supply chains and related industries affecting more than 100,000 additional workers.
Canada will move quickly to ratify the new North American trade pact, Foreign Minister Chrystia Freeland said on Saturday, a day after the United States agreed to lift tariffs on Canadian steel and aluminium.
Prior to speaking to journalists, Trudeau toured Stelco and met workers to break the news directly to them first. He was joined by several cabinet ministers, including Freeland and Finance Minister Bill Morneau.
Canada and Mexico were initially exempted from the tariffs imposed by President Donald Trump using a national security argument as part of his hardline trade tactics.
Canada and Mexico reacted to the steel tariffs by imposing tariffs on US farming products and other goods.
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She said: "We are already preparing a list of possible items that would be on that list".
"Ending tariffs means Canadians can get back to work". "We've paid a billion dollars - or plus - in tariffs".
Canada has also agreed to drop the tariffs it raised on goods imported from the U.S.in retaliation.
"American steel producers appreciate President Trump's continued focus on leveling the playing field for our industry and, by enacting the Section 232 remedy, ensuring our national and economic security is not threatened by foreign imports", says Thomas J. Gibson, president and CEO of the American Iron and Steel Institute (AISI), Washington, in response to the news of the tariff removal.
The Trudeau government branded the tariffs as illegal, absurd and insulting, warning that Canada and Mexico would struggle to ratify the United States-Mexico-Canada Agreement, or USMCA, with the levies still in place.
Tariffs of 25% on steel imports from Canada and 10% for aluminium came into force on 1 June 2018. These import duties are now to be omitted.
While Friday's news appeared to signal a breakthrough, China and the U.S. are still locked in an escalating trade war. After he announced the tariffs, more than 100 Republican members of Congress signed a letter criticizing the move. We would never accept a hard quota.