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Trade Chief: Canada May Balk at New N.A. Trade Deal
Canada’s top trade negotiator says many in her country object to ratifying an updated North American trade deal until the U.S. lifts tariffs on Canadian aluminum and steel.
#economics #aluminum
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Canada’s top trade negotiator says many in her country object to ratifying an updated North American trade deal until the U.S. lifts tariffs on Canadian aluminum and steel.
Foreign Minister Chrystia Freeland made the comments to reporters in Washington, D.C., on Monday after discussing the import taxes with U.S. Trade Representative Robert Lighthizer, Reuters reports. She didn’t say whether any progress was made.
The U.S. began levying special tariffs on imported steel and aluminum last June, claiming that foreign steel poses a threat to national security. It also used the tariffs to push Mexico and Canada into agreeing to a replacement for the 25-year-old North American Free Trade Agreement.
The resulting pact—the U.S.-Mexico-Canada Trade Agreement —was signed by all three countries last November. The measure has not yet been ratified by any of the participants. But Freeland says it makes no sense to continue protective tariffs after the USMCA deal was signed.
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