Canada has completely abolished tariffs on a number of American products that were introduced by Ottawa in response to the US setting tariffs for Canadian steel and aluminum, CNBC reported.
“In a joint statement Friday, the Canadian and American governments said the U.S. will scrap the metals duties within two days. Canada will remove tariffs levied on American goods in retaliation for the steel and aluminum duties,” the statement noted.
On May 17, Canada and the US agreed to remove the corresponding tariffs within two days. On May 20, US President Donald Trump signed two orders to abolish steel and aluminum duties from Canada and Mexico.
In March 2018, the US introduced tariffs on steel and aluminum imports, providing a number of countries with a deferment. On June 1, 2018, restrictive measures took effect in respect of Canada, Mexico and the European Union. The Trump administration then justified its decision to impose duties on Canadian and Mexican metals on the need to ensure national security.