Canada to Lift Most Retaliatory Tariffs on U.S. Goods
Canada will remove most retaliatory tariffs on U.S. products, effective September 1, under the USMCA agreement. Tariffs on steel and aluminum, however, will remain in place.
Overview
- Canada announced it will remove most retaliatory tariffs on various U.S. products, with these changes scheduled to take effect on September 1.
- These tariffs were originally imposed by Canada at 25% in March as a direct response to U.S. tariffs on Canadian steel and aluminum.
- While most tariffs are being lifted, duties on specific sectors such as steel and aluminum will remain in place, indicating continued trade issues in these areas.
- The decision to ease these trade barriers is part of the broader USMCA agreement, aiming to improve economic relations between the two major trading partners.
- This announcement followed a phone call between Carney and President Trump, highlighting diplomatic engagement in resolving ongoing trade disputes.
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Analysis
Center-leaning sources cover the story neutrally by presenting a balanced account of the trade dispute between Canada and the US. They focus on reporting the facts of Canada's decision to drop some tariffs, providing context from both nations' perspectives, and detailing the economic implications without adopting a biased stance or using loaded language.
"The move by Canada is expected to reduce tensions with the U.S., as the two nations work to hash out a trade agreement."
CBS News"The move is designed to reset trade talks between the two countries."
NPR"Carney said Canada will now match the US by ending its tariffs on goods compliant with the US-Mexico-Canada free trade agreement (USMCA)."
BBC NewsArticles (9)
FAQ
Tariffs on U.S. autos, steel, and aluminum will remain in place after Canada lifts most other retaliatory tariffs on September 1.
The removal of most Canadian tariffs on U.S. goods is governed by the United States-Mexico-Canada Agreement (USMCA).
Canada's decision followed a phone call between Canadian Prime Minister Mark Carney and U.S. President Donald Trump, highlighting renewed diplomatic engagement to resolve trade disputes and restart stalled trade negotiations.
Canada initially imposed 25% retaliatory tariffs on U.S. goods in response to U.S. tariffs on Canadian steel and aluminum implemented in March.
A White House official welcomed the move as long overdue, and President Trump described it as a "nice" development that could lead to further trade discussions.
History
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