US Lifts 232 Metal Tariffs On Canada And Mexico

On Friday, the Trump administration reached a deal to lift steel and aluminum tariffs on Canada and Mexico. This is a major step forward on the path to approval of the new US-Mexico-Canada Agreement.

The Trump administration also will not impose quotas in their place, an idea the President had floated. Rather, the countries have promised to establish a tracking system to monitor and prevent a surge in steel imports into the U.S. from trading partners outside of North America.

According to the official joint statements, the steel and aluminum tariffs of 25 percent and 10 percent, respectively, were scheduled to be gone within 48 hours. As of this morning, the U.S. has lifted its steel and aluminum tariffs, Canada has formally ended its retaliatory tariffs and Mexico is scheduled to do the same.

Canada and Mexico have in return agreed to lift the retaliatory tariffs they imposed on U.S. products. Additionally, the countries have agreed to terminate all pending World Trade Organization litigation pertaining to 232 steel and aluminum tariffs and implement measures to prevent imports of subsidized/dumped steel and aluminum.

For the full statements from the United States, Mexico and Canada, see below:

• Complete statement from the United States, click here.
• Complete statement from Canada, click here.
• Complete statement from Mexico, click here.

For questions on this or any other trade issue, contact Samantha Rocci at srocci@rvia.org.