U.S. Reaches Deal With Canada, Mexico To Immediately Lift Metals Tariffs 
Agreement Lifts the 25 Percent Tariff on Steel and 10 Percent Tariff on Aluminum.

The U.S., Canada and Mexico have reached an agreement to remove President Donald Trump's tariffs on steel and aluminum imports, a yearlong standoff that posed complications to reaching a new North American trade deal. The agreement lifts the 25 percent tariff on steel and 10 percent tariff on aluminum. Canadian Prime Minister Justin Trudeau and Trump discussed the deal by phone today. The tariffs will be gone in 48 hours, a senior official said. Additionally, the development does not involve quotas. 

A Canadian official said talks between Canada and the U.S. had moved forward and a deal could be announced as early as Friday afternoon. Canada would also immediately lift its retaliatory tariffs on the U.S. once the U.S. metals tariffs are lifted, the person said.

The official said the agreement will require countries to monitor for, and prevent, a surge in steel imports from other continents. If an unusually high amount of imports are coming in, one country could request consultations and ultimately re-impose tariffs — but only on the specific type of steel or aluminum flooding in.

A senior official said the dropping of the tariffs was "not pegged" to the adoption of the new U.S.-Mexico-Canada Agreement. However, Canadian and Mexican officials, and Senate Republican have said removal of the steel and aluminum tariffs would create strong momentum for the ratification of the new U.S.-Mexico-Canada Agreement. This turn of events makes it far more likely that all three nations will vote on the agreement this year.
 

 
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