US drops steel and aluminum tariffs on Canada and Mexico
The United States, Canada and Mexico on Friday announced that they would be scrapping tariffs on each other's steel and aluminum products, effective in 48 hours ...
By imposing the tariffs on steel and aluminium and threatening ones on autos, Trump was relying on a rarely-used weapon in the US trade war arsenal — Section 232 of the Trade Expansion Act of 1962 — which lets the president impose tariffs on imports if the Commerce Department deems them a threat to national security.
However, the steel and aluminum tariffs were also designed to coerce Canada and Mexico into agreeing to a rewrite of North American free trade pact. The Mexicans and the Canadians went along last year with a revamped regional trade deal that was to Trump's liking. But the administration had refused to lift the import taxes until Friday.
While the tariffs helped many US steel and aluminum makers, the retaliatory tariffs hurt other sectors of the US economy, such as agriculture. At the time, Mexico and Canada imposed retaliatory tariffs on US metals, pork legs, apples, grapes, cheese and bourbon whisky, among other products ...
https://www.dw.com/en/us-drops-steel-and-aluminum-tariffs-on-canada-and-mexico/a-48781256
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