CANADA, MEXICO EXEMPT FROM U.S. STEEL, ALUMINUM TARIFFS - FOR NOW
Mar 08, 2018
By Bob Komsic
While the 25% tariff on steel and 10% levy on aluminum won’t apply to Canadian or Mexican metals, there’s no guarantee that’ll always be the case.
Surrounded by steel and aluminum workers as he explained the decision Thursday at the White House, President Donald Trump repeated that it will hinge on the outcome of NAFTA negotiations, currently in their eighth round.
”Due to the unique nature of our relationship with Canada and Mexico, we’re negotiating, right now NAFTA, and we’re going to hold off the tariff on those two countries to see whether or not we’re able to make the deal on NAFTA; national security very important aspect of that deal. And if we’re making the deal on NAFTA, this will figure into the deal and we won’t have the tariffs on Canada or Mexico.”
Canada and Mexico are the only countries getting a pass on the tariffs which take effect in 15 days.