President Donald Trump announced Thursday that Canada has been officially removed in the US steel and aluminum tariffs due to a new agreement between the two countries. This agreement was reached on May 17, 2019, and the tariffs were officially lifted on May 20, 2019.
The tariffs had been a major point of contention between the US and Canada, with Canadian Prime Minister Justin Trudeau calling them “unjust and illegal” and imposing retaliatory measures on US goods. The new agreement removes these tariffs and also eliminates Canada’s retaliatory measures.
Both countries have expressed satisfaction with the resolution, with Trudeau stating that the tariffs had been a “significant barrier” to reaching a new trade agreement and that their removal will benefit workers and businesses on both sides of the border. Trump also praised the deal, stating that it will lead to “freer markets, fairer trade, and robust economic growth.”
This agreement comes at a time of increasing trade tensions between the US and other countries, including China and Mexico. The resolution of the steel and aluminum tariffs with Canada may signal a willingness on the part of the US to resolve other trade disputes through negotiation and compromise.
Overall, the removal of the steel and aluminum tariffs is a positive development for both the US and Canada, as it removes a major obstacle to trade and opens the door to improved economic relations between the two countries.