The U.S. has reached a deal to lift steel and aluminum tariffs on Canada and Mexico, removing a major barrier to congressional approval of President Trump’s revised trade deal with the countries.
The U.S. will be “selling our product into those countries without the imposition of tariffs or major tariffs — big difference,” Mr. Trump announced in a speech Friday afternoon before the National Association of Realtors.
The president said the U.S. has a great relationship with Canada but that it put up a “barrier” by imposing tariffs on American farmers.
“That deal is going to be a fantastic deal for our country,” he said.
As a result, Mr. Trump called on Congress to approve the revised U.S.-Mexico-Canada deal swiftly.
The Canadian government announced Friday afternoon that the U.S. and Canada agreed to eliminate all steel and aluminum tariffs within 48 hours and to prevent the “trans-shipment” of steel made in other countries, a moved aimed primarily at cheap Chinese steel.
The agreement also outlines a process for reimposing the tariffs if one of the countries experiences a “surge” of imported steel or aluminum.
The deal should help to pave the way for Congress to approve the U.S.-Mexico-Canada Trade Agreement, the deal that the administration negotiated to replace the 1990s-era North American Free Trade Agreement.
Lawmakers in both parties have been urging the White House to lift the tariffs on steel and aluminum before they would consider passage of the new trade deal.