US to lift tariffs on Canadian aluminium, steel products
Washington [USA], May 18 (ANI): The United States and Canada reached a deal on Friday to remove all tariffs imposed by Washington on imports of aluminium and steel products from Canada, according to a joint statement.
ANI
May 18, 2019 05:15 IST
Washington [USA], May 18 (ANI): The United States and Canada reached a deal on Friday to remove all tariffs imposed by Washington on imports of aluminium and steel products from Canada, according to a joint statement.
"The United States and Canada agree to eliminate, no later than two days from the issuance of this statement: All tariffs the United States imposed under Section 232 on imports of aluminium and steel products from Canada; and all tariffs Canada imposed in retaliation for the Section 232 action taken by the United States," the official statement said.
The two countries also agreed to prevent imports of steel and aluminium which are "unfairly subsidised" or "sold at dumped prices," according to Sputnik.
The United States had imposed 25 per cent tariffs on steel imports and 10 per cent on aluminium imports in March. Citing national security risks, US President Donald Trump told Canada and Mexico to ban Chinese steel from entering the US using their territory.
This comes as the solution to the trade dispute between the United States and China seems farther away, due to the fresh tariffs imposed by the US on Chinese imports amounting to a whopping USD 200 billion. Trump cited China backing out of the deal at the last moment as the reason behind the decision. (ANI)
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