US lifts steel and aluminum tariffs on Canada and Mexico

In remarks to the National Association of Realtors, President Trump said the tariffs deal should pave the way for lawmakers to ratify the new United States (US)-Canada-Mexico Agreement. “That deal is going to be a fantastic deal for our country. Hopefully Congress will pass the USMCA quickly,” he said.

In a joint statement, the US said it removed metals tariffs on Canadian steel and aluminium imports in exchange for Canada scrapping retaliatory tariffs on US goods.

The move would lift the 25 per cent steel and 10 per cent aluminium tariffs the US placed on the two trading neighbours almost a year ago in the name of national security.

Donald Trump’s statement came moments after Canada released the text of the agreement between Ottawa and Washington in which they agreed to eliminate US tariffs on steel and aluminum, and Canada's retaliatory measures, within no more than two days.

Mexico confirmed it had reached a similar agreement with the US.

The joint US-Canada statement says the two countries will establish a way to monitor aluminum and steel trade between them, with an eye to prevent the "transshipment" of aluminum and steel produced by a third country./.