U.S. Boosts Hope For Trade Deal By Lifting Tariffs On Canadian, Mexican Metals

According to a report by Reuters, on Friday, the United States struck deals to lift tariffs on steel and aluminum imports from Canada and Mexico, removing a major obstacle to legislative approval of a new North American trade pact. The United States and Canada reportedly said the agreement would be implemented by Sunday afternoon, and would include new curbs intended to prevent dumped steel and aluminum from China and other countries from entering the U.S. market via Canada. Reuters reports that President Donald Trump imposed the global “Section 232” tariffs of 25% on steel and 10% on aluminum in March 2018 on national security grounds, invoking a 1962 Cold War-era trade law.