U.S. reaches deal with Canada, Mexico to lift steel, aluminum tariffs, clearing key obstacle to pass

[Eugene]

Source: Washington Post

The United States has agreed to lift its tariffs on industrial metals from Mexico and Canada, clearing a major obstacle to congressional passage of President Trump’s new North American trade deal, according to two people familiar with the matter.

The bargain calls for Mexico and Canada to adopt tough new monitoring and enforcement measures to prevent Chinese steel from being shipped to the U.S. via their territory. U.S. tariffs are to be lifted in 48 hours.

Canadian Prime Minister Justin Trudeau spoke with President Donald Trump on Friday, their third such call in about a week. They discussed the tariff issue, as well as relations with China and the United States-Mexico-Canada trade agreement, according to a Canadian read-out of the call.

Citing national security considerations, Trump imposed tariffs on steel and aluminum in March 2018 in response to what the U.S. called a flood of excess Chinese commodities onto global markets. The administration blamed Chinese overproduction for depressing global steel and aluminum prices, driving many U.S. mills out of business.

-snip-

By David J. Lynch, Emily Rauhala and Damian Paletta May 17 at 12:54 PM


Read more: https://www.washingtonpost.com/business/economy/trump-delays-auto-tariff-threat-for-up-to-180-days/2019/05/17/95432e8e-78a7-11e9-b7ae-390de4259661_story.html

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Full headline: U.S. reaches deal with Canada, Mexico to lift steel, aluminum tariffs, clearing key obstacle to passage of Trump’s new trade deal

[katmondoo]

1. Trump always goes to the bitter end before giving in

I think he will do the same with Iran, provoking until the last minute than declare victory and end the war threat and say he loves the Iranian leader.

[Bernardo de La Paz]

2. Yeah, NAFTA 2.0 hanging in balance for months waiting on this. No ratification till this is settled.

[BigmanPigman]

3. Listening to financial experts...

"All that this did for the past year was cause people to suffer for a year under a false narrative". Now he is trying to declare victory over a battle he started. All tactics, little to no strategy. Same goes for everything else he touches.

[amcgrath]

4. And in case you missed it,

Putin has come forward and said that it will supply China with soy beans, meat and poultry.

The market that Trump has spoiled with his ignorant, petulant little 'world accordimg to Trump' concept, will likely not be returning. The 'sacrifice' of farmers that Trump and Pence were praising, appears to have become a permanent one. Their homes and livelihoods thrown away so that Trump could play the big man.

Trump ruins everything he touches - and others pay the price.

[OnlinePoker]

5. This was the plan all along

Destroy the remaining family farm viability so corporations can swoop in and scoop up the land for pennies on the dollar.

[marble falls]

6. Nothing won and nothing lost. What an idiot.

[EarthFirst]

7. Is their an executive record of anything anymore?

This reporting is being based on a Canadian readout of the transcript; does this imply that there is no US documentation of these phone calls?

Or is the press being denied access to these transcripts out of spite towards journalists?

Either way; that we’re learning the details of trade talks by the Prime Ministers of foreign countries rather than a sincere government here at home.

This speaks volumes.