U.S. poised to lift steel, aluminum duties on Canada, Mexico [Business News Network (BNN) Energy & Resources (Canada)]
Alcoa Corporation (AA)
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Source: Business News Network
U.S. poised to lift steel, aluminum duties on Canada, Mexico The U.S. is poised 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 helps clear the way for ratification of the new NAFTA. The date that the tariffs will go into effect is the outstanding issue, one of the people said. The move will lift the 25 per cent steel and 10 per cent aluminum tariffs the U.S. placed on the two trading neighbors almost a year ago in the name of national security. The decision sparked retaliatory duties from Canada and Mexico on U.S. farming goods and other products, and left the potential that lawmakers in all three nations wouldn’t ratify the deal. As part of the agreement to lift 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, according to the people. The nations have also all agreed to ramp u
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