Canada and US lift tariffs on steel and aluminum

first_imgWord of the agreement began to trickle out amid reports that U.S. negotiators had backed off long-standing demands for a hard limit on imports of Canadian steel and aluminum, part of an effort to keep cheap Chinese product out of the country.Late Friday morning, Trudeau and President Donald Trump wrapped up their third phone call in less than a week on the tariff dispute, including Canada’s decision to retaliate with more than $16 billion of its own punitive levies on American products. OTTAWA – Canada’s year-long standoff with the Trump administration over punitive U.S. steel and aluminum tariffs is finally over, removing a key hurdle in efforts to ratify the new North American trade pact.Global Affairs Canada says the tariffs will be removed within two days.BREAKING: now official! Canada and the US reach deal to lift tariffs on steel and aluminum. Here is the joint statement on what the countries have agreed to. #cdnpoli pic.twitter.com/0PCeE8PWaq— Cormac Mac Sweeney (@cmaconthehill) May 17, 2019Canada has also agreed to drop all of its retaliatory measures and legal actions at the World Trade Organization.Prime Minister Justin Trudeau is making an unscheduled, last-minute trip to Hamilton, Canada’s steel-manufacturing capital, where he’s expected to confirm the breakthrough at an event at steel giant Stelco with Foreign Affairs Minister Chrystia Freeland and Finance Minister Bill Morneau.last_img