Select date
US, Canada to lift tariffs on steel, aluminum and more, stop litigation in WTO - joint statement
Washington and Ottawa have agreed to remove steel and aluminum tariffs as part of an agreement regulating the metal trade between the two neighbors, according to a joint statement.
The US will lift its 25-percent tariff on steel imports and 10-percent tariff on aluminum President Donald Trump imposed against Canada back in late May 2018 while Canada will, in turn, remove all retaliatory tariffs it levied against the American goods, the statement said, adding that that all the tariffs will be gone in two days.
It's official, per a joint Canada-US statement issued the Canadian government: the tariffs will be gone within 48 hours.
The countries have agreed that there can be tariffs imposed on *individual products* if there is a meaningful "surge" of imports of those products. pic.twitter.com/gWUYx7pICM
— Daniel Dale (@ddale8) May 17, 2019
The two nations also vowed to take measures to prevent the imports of steel and aluminium that is “unfairly subsidized” or “sold at dumped prices” as well as prevent the “transshipment of steel and aluminum” produced in third countries to one another. They also agreed to create a special monitoring mechanism to promptly detect import “surges.”
DETAILS TO FOLLOW
