Friday, 17 May 2019 13:50

US drops steel and aluminum tariffs

561 SteelTariffs

 

Another good news story, the U.S. is dropping its tariffs on Canadian steel and aluminum, almost exactly a year since the measures took effect. Global Affairs Canada said the tariffs will be removed within two days. Canada has agreed to lift tariffs that were imposed in retaliation. Tariffs of 25 per cent on imports of steel from Canada and 10 per cent on aluminum took effect on June 1, 2018. Canada’s steel and aluminum industries employed about 33,500 Canadians in 2017 and added $8.9 billion to the country’s gross domestic product, according to federal government figures.

 

 

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