US to Halve Tariffs on Canada Steel, Aluminum in Trade Deal: Report
Negotiators are weighing exclusions and derivative-product rules as they seek to balance lower metal duties with protections for U.S. aluminum manufacturers.
- 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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10 Articles
U.S. Eyes Lower Tariffs on Metals and Autos in Canada Trade Deal
The U.S. is likely to lower tariffs on Canadian steel, aluminum and automobiles as part of a trade framework being devised by the nations, according to people with knowledge of the negotiations.
A trade agreement between the United States and Canada, which is still being negotiated, should reduce from 25% to 15% the maximum rate of tariffs imposed by President Donald Trump on cars and trucks manufactured in Canada and cut by half, to 25%, the maximum rate on Canadian steel and aluminium, according to a source familiar with the negotiations. Also read: Trump announces agreement and suspends for 3 days new 50% rate on Canada Canada seeks …
Tentative US-Canada Deal Could See 25% Tariffs on Certain Canadian Steel, Aluminum
A tentative trade deal with the US could see tariffs on certain Canadian exports of steel and aluminum halved to 25%, Bloomberg reported Wednesday afternoon. Talks between US and Canadian trade...
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