Industry Reacts to U.S. Lifting Metal Tariffs on Canada and Mexico
On Friday, the United States and Canada announced a deal to remove tariffs on Canadian steel and aluminum in exchange for keeping dumped metals from China and other countries out of the United States, paving the way for a similar pact with Mexico. The quota-free deal eliminated the U.S. metal tariffs as well as Canada's retaliatory tariffs on about $12 billion worth of U.S. products, including pork and beef. The 25% tariff on steel and 10% tariff on aluminum from Canada and Mexico were a major hurdle to ratification of the new trade deal to replace the North American Free Trade Agreement.
U.S. Secretary of Agriculture Sonny Perdue stated that Congress should swiftly move to ratify the USMCA after the Section 232 Tariffs were removed from Canada and Mexico. "The announcement is a big win for American agriculture and the economy as a whole. I thank President Trump for negotiating a great deal and for negotiating the removal of these tariffs...
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