USA to lift steel tariffs on Canada, Mexico

Trump delays tariffs on car imports

U.S. close to removing steel and aluminum tariffs from Canada and Mexico, sources say

The Trump administration has reached a deal to lift tariffs on steel and aluminum imports from Canada, in a move that could put the two nations a step closer to ratifying the USMCA - the trade deal that would update the NAFTA agreement.

Mr. Trudeau spoke with U.S. President Donald Trump Friday on tariffs and other trade matters, the Prime Minister's office said.

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

U.S. tariffs on steel and aluminum from Europe remain in place, as does the European Union retaliation.

President Donald Trump said United States tariffs imposed on Canada and Mexico would end very soon. Some key members of the US Congress had said they would not agree to vote for the three-country free trade pact unless the Trump " s metals tariffs ended. U.S. Vice President Mike Pence said on Twitter that he'll meet with Trudeau in Ottawa on May 30 discuss advancing USMCA. The administration blamed Chinese overproduction for depressing global steel and aluminum prices, driving many US mills out of business. So it is called steel, who is originally from another country - say, China - and the second to the third countries is sold. After tariffs were imposed past year, Canada's largest fire apparatus builder - Winnipeg's own Fort Garry Fire Trucks - felt the pinch. It is to be based on individual product categories, but not on the entire steel or aluminum industry.

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Prior to speaking to journalists, Trudeau toured Stelco and met workers to break the news directly to them first. He was joined by a number of officials including Foreign Affairs Minsiter Chrystia Freeland and Finance Minister Bill Morneau.

Canadian exporters will face new complexity because of the need to track the origins of the steel and aluminum they use - a measure to prevent foreign metal from flowing through Canada to the United States, wrote CIBC Capital Markets analysts Benjamin Tal and Katherine Judge in a note.

Thomas Donohue, president of the U.S. Chamber of Commerce, said the lifting of the tariffs "will bring immediate relief to American farmers and manufacturers".

"It's a great day for us", said Suché.

"Ending tariffs means Canadians can get back to work". The US will reserve the right to reimpose the tariffs if there is a surge in imports "beyond historic volumes".

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But both Republicans and Democrats had said they would not sign off on that deal until the White House removed metal tariffs on Canada and Mexico.

Freeland, Trudeau and others have branded the tariffs as illegal, absurd and insulting, while Canada and Mexico say that it will be tough to ratify the new continental free trade agreement if they remain in place.

The president also said he hopes that Congress will pass the United States-Mexico-Canada Agreement (USMCA) "quickly".

The US imposed tariffs on steel and aluminium last March, arguing cheap imports were an "assault on our country" that was leading to the "decimation of entire communities". After such consultations, the importing party may impose duties of 25 per cent for steel and 10 per cent for aluminum,"says the agreement".

The approach harks back to the voluntary export restraints the US negotiated with Japan during an earlier period of trade tension in the 1980s.

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