'We've just reached an agreement with Canada and Mexico and will be selling our product into those countries without the imposition of tariffs' US President Donald Trump
President Donald Trump still is hoping to use the threat of auto tariffs to pressure Japan and the EU into making concessions in ongoing trade talks.
In a joint statement, the US and Canada said they would work to prevent cheap imports of steel and aluminum from entering North America. The provision appeared to target China, which has long been accused of flooding world markets with subsidised metal, driving down world prices and hurting US producers. The countries could also reimpose the tariffs if they faced a "surge" in steel or aluminum imports.
But the steel and aluminum tariffs were also designed to coerce Canada and Mexico into agreeing to a rewrite of North American free trade pact. In fact, the Canadians and Mexicans did go along last year with a revamped regional trade deal that was to Trump's liking. But the administration had refused to lift the taxes on their metals to the United States until Friday.
The United States last year imported $192 billion worth of passenger vehicles and $159 billion in auto parts. In justifying tariffs for national security reasons, Commerce found that the US industrial base depends on technology developed by American-owned auto companies to maintain US military superiority. Because of rising imports of autos and parts over the past 30 years, the market share of US-owned automakers has fallen.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Trump Says U.S. Reaches Deal With Canada, Mexico to End Steel and Aluminum TariffsThe administration has reached agreements with Canada and Mexico that end U.S.-imposed tariffs on steel and aluminum imports, President Trump said Friday, removing a major barrier to the three countries’ new trade pact.
Read more »
Trump rolls back steep tariffs on metal from Canada and MexicoPresident Donald Trump lifted metal tariffs on Canada and Mexico, clearing major hurdles for a new North American trade agreement.
Read more »
U.S. to Lift Steel, Aluminum Duties on Canada and MexicoThe U.S. tariffs are expected to be lifted about 48 hours after an official announcement, which will likely be made as early as Friday. In return, Canada and Mexico will eliminate their retaliatory tariffs, the people said.
Read more »
US reaches deal to lift steel and aluminum tariffs on Canada and MexicoThe deal would get rid of a key obstacle to passing updates to the North American Free Trade Agreement.
Read more »
U.S. reaches deal with Canada, Mexico to lift steel, aluminum tariffs: Washington PostThe United States has agreed to lift tariffs on steel and aluminum from Canada a...
Read more »
The Latest: Trump announces tariffs deal with Canada, MexicoPresident Trump announces a deal with Canada and Mexico that would scrap 'major tariffs.' The agreement ends a simmering trade dispute that began when the president imposed tariffs on imported steel and aluminum in the name of national security.
Read more »
Trump will suspend year-old steel, aluminum tariffs on Canada and MexicoTrump drew howls from allies last May when he used a provision of a 1962 law to claim a trade imbalance in metals posed a national security risk.
Read more »
Trump agrees to lift steel tariffs on Canada and Mexico, boosting chances for trade accordPresident Trump removed tariffs on steel and aluminum imported from Canada and Mexico to try to help win passage of the revamped North American trade pact.
Read more »
U.S. nearing deal with Canada, Mexico to lift metals tariffsA deal could happen as early as Friday but officials cautioned that negotiations were ongoing and nothing has been finalized.
Read more »
U.S. nears removal of tariffs on Canada, Mexico metals: mediaThe United States is close to a deal to remove tariffs on steel and aluminum imp...
Read more »