Canadian Prime Minister Justin Trudeau said steel and aluminum tariffs were the greatest barriers to USMCA ratification, and was optimistic Canada could move forward on it in coming weeks.
The quota-free deal will eliminate the U.S. metals tariffs within 48 hours as well as Canada’s retaliatory tariffs on some $12 billion worth of U.S. products, including pork, beef and bourbon.
The 25% tariff on steel and 10% tariff on aluminum from Canada and Mexico were a major hurdle to ratification of the new trilateral trade deal to replace the 25-year-old North American Free Trade Agreement.
Several prominent U.S. lawmakers had said that a vote on the U.S.-Mexico-Canada Agreement (USMCA) was impossible until after the metals tariffs — and retaliatory measures aimed largely at U.S. farmers — were lifted.
(Production: Kia Johnson)