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Trump rolls back steep tariffs on metal from Canada and Mexico

Trump rolls back steep tariffs on metal from Canada and Mexico
Reuters



President Donald Trump said he would roll back metal tariffs on Canada and Mexico.




The move marks a major step toward ratifying the new NAFTA agreement reached last year.




The metal tariffs were levied in a bid to keep cheap material from flooding the US market, but the sweeping policy has drawn criticism from lawmakers who said it alienated allies.




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President Donald Trump lifted metal tariffs on Canada and Mexico on Friday, clearing a major hurdle for a new North American trade agreement.
The announcement that Mexico and Canada would no longer face US tariffs of 25% on steel and 10% on aluminum, which had been levied last March, came after Trump spoke with Canadian Prime Minister Justin Trudeau.
Mexico and Canada agreed to remove all retaliatory tariffs following adjustment, according to the Associated Press, which is set to take effect in 48 hours.
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