Steel tariffs remain in force as Trump credits them with clinching USMCA deal – by Naomi Powell (Financial Post – October 2, 2018)

https://business.financialpost.com/

Canadian industry leaders insist they be lifted as a condition of a final deal

U.S. President Donald Trump’s tariffs on steel and aluminum will remain in force despite a new trade pact with Canada and Mexico — even as Canadian industry leaders insist they be lifted as a condition of a final deal.

Trump, who previously tied the tariffs to the successful renegotiation of the North American Free Trade Agreement, praised the levies for bringing about the revamped trilateral pact, secured following marathon talks this weekend.

“Without tariffs, we wouldn’t be talking about a deal — just for those babies out there that talk about tariffs,” Trump said Monday in a White House announcement of the deal, which is being called the U.S.-Mexico-Canada Agreement (USMCA).

The levies will remain on Canada and Mexico, he later said, “until such time as we can do something different,” adding that might mean imposing quotas instead, “so that our industry is protected.”

Prime Minister Justin Trudeau, speaking to reporters in Ottawa, said removing the steel and aluminum tariffs remained a priority for both Canada and Mexico “and is something the Americans have indicated they are more than willing to work on.”

For the rest of this article: https://business.financialpost.com/news/economy/steel-tariffs-remain-in-force-as-trump-credits-them-for-clinching-usmca-deal

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