The U.S. has lifted the 25% steel tariff and 10% aluminum tariff that it has been imposing on imports from Canada for almost a year.
The U.S. has lifted the 25% steel tariff and 10% aluminum tariff that it has been imposing on imports from Canada for almost a year. These tariffs are eliminated effective May 20, 2019, and Canada has similarly cancelled its own retaliatory countermeasures, which it imposed against imports from the U.S. These moves, which follow a Joint Statement made by Canada and the U.S. on May 17, 2019, will come as a relief to Canadian importers and exporters who have been affected by the tariffs.
Canadian businesses should be aware that either country may re-impose duties if imports "surge" beyond historical levels. In the Joint Statement, the U.S. and Canada say that they will create a process for monitoring their aluminum and steel trade to identify if such a surge occurs.
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