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US to lift tariffs on Canadian aluminium, steel products

ANI  |  US 

The and reached a deal on Friday to remove all tariffs imposed by on imports of and products from Canada, according to a joint statement.

"The and agree to eliminate, no later than two days from the issuance of this statement: All tariffs the imposed under Section 232 on imports of and products from Canada; and all tariffs imposed in retaliation for the Section 232 action taken by the United States," the official statement said.

The two countries also agreed to prevent imports of and which are "unfairly subsidised" or "sold at dumped prices," according to Sputnik.

The United States had imposed 25 per cent tariffs on and 10 per cent on aluminium imports in March. Citing national security risks, US told Canada and to ban Chinese steel from entering the US using their territory.

This comes as the solution to the trade dispute between the United States and seems farther away, due to the fresh tariffs imposed by the US on Chinese imports amounting to a whopping USD 200 billion. Trump cited backing out of the deal at the last moment as the reason behind the decision.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, May 18 2019. 05:15 IST
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