The 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.
-- The U.S. plans to lift steel and aluminum tariffs on Canada and Mexico in favor of stronger enforcement actions, according to people familiar with the matter, in a move that will help clear the way for ratification of the new Nafta.
As part of the agreement to scrap the levies, the U.S. will be able to impose new tariffs on Canada and Mexico if they don’t do enough to prevent any surge of imports of the metals, people familiar with the matter said. The nations have also all agreed to ramp up efforts to trace where the metals have come from originally, to stop the diversion of shipments from other nations to dodge the tariffs.
U.S. Trade Representative Robert Lighthizer has briefed lawmakers on Capitol Hill that an announcement of a deal was close, the person said.
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