USA to lift steel and aluminium tariffs on Canada and Mexico

It is being reported online that the USA plans to lift tariffs on imported steel and aluminium from Canada. A similar announcement with regard to Mexico is expected soon.

Getting rid of tariffs between the three countries is likely to pave the way for approval of the US-Mexico-Canada Agreement (USMCA), signed last year and replacing the North American Free Trade Agreement (NAFTA) that was started in the 1990s.

If tariffs are lifted on Mexico then the USMCA can be ratified by the USA, Canada and Mexico.

According to online reports, under the USMCA agreement, there will be no quotas on how much steel or aluminium the three countries buy from overseas.

Tariffs on exports of steel and aluminium from the European Union to the USA are still subject to tariffs.