Trump delays auto tariffs for 6 months

U.S. Poised to Lift Steel Aluminum Duties on Canada MexicoMore

A revised USA trade deal with Mexico and Canada signed in November effectively shields existing imports from the two nations to the United States from national security tariffs.

Under the terms of that agreement, both countries will also scrap retaliatory tariffs they imposed on United States products.

A senior Mexican official said that once the deal is announced and implemented, Canada and Mexico will lift retaliatory tariffs on billions of dollars of us products. Korean automakers including Kia Motors Corp. advanced on news the proclamation will exempt South Korea from any future tariffs because it renegotiated the U.S. -Korea Free Trade Agreement previous year.

Additionally, "the United States and Canada agree to terminate all pending litigation".

Trump is hoping to use the threat of auto tariffs to pressure Japan and the European Union into making concessions in ongoing trade talks. "They were hurting Canadian consumers, Canadian workers and American consumers and American workers".

The Commerce Department submitted its findings in February to the president after conducting an investigation into whether auto imports pose a national-security threat.

The tariffs were responsible for a almost 9 percent drop in the value of hogs being sold off the farm a year ago.

"That deal is going to be a fantastic deal for our country", he said.

"Now we can work together to deal with overproduction outside of North America and approve the improved free-trade deal".

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Trudeau offered a shout-out to Canadian unions for their support, and said it helped the government hold firm to US demands that it submit to quotas before lifting the tariffs.

Last June, the USA imposed a 25 per cent tariff on Canadian steel and a 10 per cent tariff on Canadian aluminium.

Trudeau's visit to the Stelco Plant was made at the last minute after he spoke with U.S. President Trump by phone earlier today.

"Removing the metal tariffs restores zero-tariff trade to US pork's largest export market", Herring said.

The delay came days after significant escalations in a yearlong trade dispute between Washington and Beijing, which have announced duty increases on each other's products.

In justifying action for national security reasons, the statement says the USA industrial base depends on American-owned auto companies to come up with technology to maintain US military superiority. And he did not mention China by name - the country that the US and Canada will now carefully monitor to prevent it from dumping cheap steel into their market.

"The two leaders discussed the United States' Section 232 tariffs on steel and aluminum and Canada's retaliatory tariffs", the Prime Minister's Office said in a readout of the call. The agency was investigating whether imports harmed USA national security by weakening American automakers' ability to invest in future technologies.

The Alliance of Automobile Manufacturers, a trade group representing General Motors Co, Volkswagen AG, Toyota Motor Corp and others, said the companies remained "deeply concerned that the administration continues to consider imposing auto tariffs".



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