The U.S., Canada and Mexico are close overcoming a key roadblock to the approval of the new North American trade deal
The U.S., Canada and Mexico are on the cusp of an agreement to remove President Donald Trump's tariffs on steel and aluminum imports, a key roadblock to approval of the new North American trade deal, industry and government sources familiar with the talks said today.
However, one government official said the dropping of the tariffs was “not pegged” to the adoption of the new deal, called the U.S.-Mexico-Canada Agreement.Sign Up The two neighboring countries would not be subject to any limits, or quotas, on steel and aluminum imports, several of the sources said. The Trump administration had long called for the use of quotas to limit imports if tariffs were removed, something many U.S. lawmakers and manufacturers had warned could be more damaging than the tariffs themselves.
It was not clear whether a potential deal would immediately lift the retaliatory tariffs Canada and Mexico imposed on U.S. goods, particularly agricultural products.
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