Canada will be exempt from Trump’s new tariffs on steel and aluminum

Mar 8 2018, 9:22 pm

After announcing a broad plan last week to impose tariffs of 25% on steel and tariffs of 10% on aluminum from other countries, President Donald Trump said on Thursday that Canada and Mexico will be spared – for now.

Trump made the comments during a signing ceremony at the White House on Thursday afternoon.

“I have decided to adjust the imports of aluminum articles by imposing a 10% tariff on aluminum articles, imported from all countries except Canada and Mexico,” said Trump.

The decision was made “due to the unique nature of our relationship with Canada and Mexico,” he added.

However, “we’re negotiating right now, NAFTA – we’re going to hold off the tariff on those to countries to see whether or not we’re able to make the deal on NAFTA.”

If an agreement is reached, “this will figure into the deal and we won’t have the tariffs on Canada or Mexico.”

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But if a deal isn’t made, “or we terminate NAFTA because they’re unable to make a deal that’s fair for our workers, then we’ll terminate NAFTA and we’ll start all over again. Or we’ll do it a different way.”

The President did not offer any further details on what this meant.

The move was a slight shift from remarks Trump made (and tweeted) earlier this week, when he said the US was “on the losing side of almost all trade deals.”

He claimed America had been taken advantage of by its “friends and enemies” and that US Steel and Aluminum industries are dead.

He also called out Canada and Mexico for what he said were large trade defecits with both countries.

Eric ZimmerEric Zimmer

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