US to Halve Tariffs on Canada Steel, Aluminum in Trade Deal: Report
Talks could cut metals tariffs in half and avert broader duties on about $900 billion in annual U.S.-Canada trade, officials said.
- American and Canadian negotiators discussed a tentative deal to cut steel and aluminum tariffs from 50% to 25% ahead of the Aug. 21 deadline, according to people familiar with the talks.
- Last year, President Donald Trump imposed tariffs on Imported Canadian steel and aluminum under Section 232 of the Trade Expansion Act, straining ties affecting roughly $900 billion in annual bilateral trade.
- The Coalition for a Prosperous America and other stakeholders lobbied President Donald Trump to tie tariff reductions to traceability requirements, warning that 125,000 American jobs in aluminum fabrication face risk.
- "Got to give something, and we're doing certain things. We're reducing it a little bit," Trump told reporters, while pausing tariffs on Canadian goods for three days to allow continued Talks.
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Trump Says US, Canada Nearing Trade Deal; Hints at Lowering Steel, Aluminium Tariffs
Get latest articles and stories on World at LatestLY. Asked whether the US would lower tariffs on steel and aluminium to get tariffs reduced, Trump said, "Well, we're looking at that. Yeah, yeah." World News | Trump Says US, Canada Nearing Trade Deal; Hints at Lowering Steel, Aluminium Tariffs.
US, Canada near trade deal with lower auto, metals tariffs
Washington and Ottawa are moving closer to a trade deal that could lower tariffs on Canadian vehicles and metals. The talks have narrowed ahead of Saturday's deadline, even as domestic pressure in Canada limits room for concessions.
US Set to Cut Tariffs on Canada Metals, Autos in Trade Deal
The tentative trade deal between the US and Canada would lower tariffs on certain Canadian exports of steel and aluminum to 25% and cut duties on Canadian auto exports to 15%, according to people familiar with the matter.
(New York = Yonhap News) Correspondent Lim Soo-jung = Under the trade agreement being pursued by the United States and Canada, U.S. tariffs on certain steel and aluminum products will rise from the current 50%...
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