U.S. to Lift Steel, Aluminum Tariffs on Canada and Mexico, Punts on Auto Tariffs

[SaysWho?]

The issue has prevented the ratification of the USMCA

 

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The move would lift the 25% steel and 10% aluminum tariffs the U.S. placed on the two trading neighbors almost a year ago in the name of national security. The decision sparked retaliatory duties from Canada and Mexico on U.S. farming goods and other products, and left the potential that lawmakers in all three nations wouldn’t ratify the deal.
 

As part of the agreement to scrap the levies, the U.S. will be able to impose new tariffs on Canada and Mexico if they don’t do enough to prevent any surge of imports of the metals, people familiar with the matter said. The nations have also all agreed to ramp up efforts to trace where the metals have come from originally, to stop the diversion of shipments from other nations to dodge the tariffs.

 

The enforcement system will aim to advantage primary steel and aluminum producers in the three-nation trading bloc to ensure that the metal is melted, poured or smelted regionally.

 

https://www.cnet.com/roadshow/news/white-house-import-car-tariff-delay/

 

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Originally, the Trump administration had planned to make a decision whether or not to apply a tariff to imported cars and car parts in May. Now, it appears the uncertainty hanging over the auto industry will continue to hover around for a couple more months.

 

The White House has delayed its decision about an imported-car tariff, Reuters reports. The decision was originally expected by its Saturday deadline, but reports started circulating this week that President Trump would delay any decision making. Now, Trump will have up to six more months to make a choice about applying a 20 percent tariff on vehicles assembled in the European Union, under the guise of national security and protecting the US auto industry.

 

The idea of slapping a catchall tariff on all vehicles imported from Europe does not sit well with many. Last year, two advocacy groups comprising nearly every major automaker claimed that the tariffs would cost hundreds of thousands of jobs, slow the development of new technologies and make some cars unaffordable to buyers. Members of Congress on both sides of the aisle have signaled their disagreement with the potential new policy, as well.

 

[SuperSpreader]

Low energy

[Jason]

Did he actually sign something, or is it still open to Lou Dobbs whipping him into a late night Twitter tantrum? 

[69los]

#NotMyTariffMan

[CitizenVectron]

I like the US is saying "we reserve the right to impose these illegal tariffs again if Canada imports too much metal in the US, even though there is no legal limit under the agreement."