October 23, 2019, 11:48

Trump Signs Proclamations Lifting Aluminium, Steel Tariffs on Canada, Mexico

Trump Signs Proclamations Lifting Aluminium, Steel Tariffs on Canada, Mexico

MOSCOW (Sputnik) – US President Donald Trump has signed proclamations that remove tariffs on aluminium and steel imports from Canada and Mexico with effect from Monday.

“Any imports of steel articles from Canada and Mexico that were admitted into a U.S. foreign trade zone under ‘privileged foreign status’ …. prior to 12:01 a.m. eastern daylight time on May 20, 2019, shall not be subject upon entry for consumption made after 12:01 a.m. eastern daylight time on May 20, 2019, to the additional 25 percent ad valorem rate of duty as imposed by Proclamation 9705, as amended,” the proclamation on imported steel said.

A similar proclamation was published with regard to imported aluminium.

It comes after on Friday, the United States and Canada said in a joint statement that they would lift mutual aluminium and steel tariffs within two days. The two countries also agreed to end all pending litigation at the World Trade Organization and prevent the transshipment of aluminium and steel made outside of Canada or the United States.

Trump confirmed that the United States had also reached the same agreements with Mexico.

READ MORE: US Reaches Deal With Canada to Lift Aluminium and Steel Tariffs in 48 Hours

Last year, Washington decided to no longer exempt Canada and Mexico from 25 percent tariffs on steel imports and 10 percent duties on aluminium imports. Back then, Trump urged Canada and Mexico to ban Chinese steel from entering the US through their territory, stating that the foreign metals posed a threat to national security.

Source: sputniknews.com

Related posts