The United States will eliminate tariffs on Canadian aluminum imports

Tensions between the United States and Canada over import duties on Canadian aluminum are likely to ease. The Donald Trump administration has announced that it will remove tariffs on aluminum imports from Canada.

The United States will not impose a 10 percent duty on Canadian aluminum imports once the volume of imports of this metal from Canada to the United States has reached a “normal level” corresponding to the average of the last few months. In return, Canada has given up on threats to introduce reciprocal measures that would increase the price of billions of dollars in imports from the United States.

A US Department of Commerce spokesman said the decision was the result of talks between Washington and Ottawa over aluminum. Both sides expect aluminum flows from Canada to the US to return to normal by the end of this year. Canadian Trade Minister Mary Ng said she welcomed the agreement. In particular, it is said to be a relief for Canadian aluminum producers, who “went through a very difficult period,” said Ng. She also stressed that Canada reserves the right to take possible retaliation should the United States decide to re-apply tariffs on Canadian imports in the future.

author avatar
EditorialTeam
The Trader-Magazine.com EditorialTeam is a collective of certified financial analysts, active traders, and cryptocurrency experts. Our mission is to transform complex market data (forex, equities, indices) into accessible financial education. All content undergoes rigorous, multi-level fact-checking to ensure we deliver only accurate, objective information for your trading and investment decisions.

Top 10 financial instruments for 2022. What will their prospects be in 2023?

The year 2022 has brought countless surprises and obstacles...

Telegram scams: how they work and how to protect yourself

Telegram has become one of the most widely used...

Trump Saved TikTok from a Ban. The App in the U.S. Moves into American Hands

TikTok narrowly avoided a ban in the United States...

Climate Change Poses Major Risks to Financial Markets, Regulator Warns

WASHINGTON — A top financial regulator is opening a...

Golden Brokers Review

Golden Brokers Limited was founded in 2018, it is...

Canada Invests in Cohere, an Artificial Intelligence Company

Canada is investing CAD 1.6 billion (CZK 25 billion)...

Airbus’s operating profit fell by nine percent in the third quarter

European aircraft manufacturer Airbus saw its adjusted operating profit...

ETF Expense Ratio: What a 0.20% Fee Really Costs Over Time

An ETF expense ratio of 0.20% may look almost...

What Is a Recession? The Indicators That Matter Before and After One Starts

A recession can reshape an entire economy, affecting employment,...

Anthropic has filed for an IPO, which could be the largest stock offering to date

The American company Anthropic filed for an initial public...

Real Estate ETFs: A Practical Guide to REIT Exposure Through Funds

Real estate has long attracted investors looking for rental...

Musk reportedly invested a billion dollars in the Skydance media group

American billionaire Elon Musk has invested roughly one billion...
spot_img

spot_imgspot_img