The United States has agreed to eliminate tariffs on steel and aluminum from Canada and Mexico
U.S. President Donald trump said Friday that the United States will eliminate tariffs on steel and aluminum imports from Canada and Mexico, clearing the way for their legislatures to approve a new north American free trade agreement. Separately, Canada said it would also eliminate retaliatory tariffs on us products. Mexico's deputy foreign minister Jesus Seade tweeted that he welcomed trump's move to eliminate the tariffs.
Both countries said the elimination of the steel and aluminum tariffs would open the way for ratification of the u.s.-mexico agreement in both parliaments. Vice President mike pence tweeted that he would travel to Ottawa on May 30 to meet with trudeau to discuss moving forward with the u.s.-mexico agreement.
Nearly a year ago, the United States imposed a 25 percent tariff on Canadian and Mexican steel imports and a 10 percent tariff on aluminum, citing national security concerns. Canada and Mexico then countered by announcing retaliatory tariffs on U.S. farm products and other products, halting the ratification process.
Under the agreement, however, the us would have the right to reinstate the duties if both countries did not act and caused metal imports to soar above historic levels. The two countries also pledged to increase tracking and regulation of metal products to prevent exporters from evading tariffs through third country shipments. In addition, to protect steel and aluminum producers in the free trade area, the agreement also requires smelting of metals to be done locally.