The United States agreed with Canada and Mexico on the mutual and special duties should be repealed. Within 48 hours, the charges would be abolished. The US President, Donald Trump confirmed: “I am pleased to announce that we have reached an agreement with Canada and Mexico, and we will sell our product in these countries without customs duties or significant duties”. Also, the canadian government published a Declaration on the abolition of customs duties. Accordingly, the neighboring countries have also agreed, all disputes in the matter to settle.
last year, U.S. President Donald Trump had imposed special levies on steel and aluminum products, among others, from Canada and Mexico, referring to the national security. For steel were sold from Canada into the United States were 25 percent duty, for aluminum, ten percent of imports. Canada responded with tariffs on US Goods, with a trading volume of around twelve billion dollars. These import duties are now to be omitted.
according to The statement, Canada, Mexico and the United States want to take action in the future against the sale of so-called transit steel. So it is called steel, who is originally from another country – say, China – and the second to the third countries is sold.
Without any special duties the free trade agreement
This agreement is mainly for the ratification of the new free trade agreement with the name USMCA important, signed by the United States, Canada and Mexico already. However, it must be approved by the parliaments. The agreement is intended to replace the 1994 version of the free trade Pact Nafta. They wanted to proceed with the common free trade agreement, said Prime Minister of Canada Justin Trudeau. Because it made no sense to charge each other tariffs on steel and aluminum.
Also in the trade dispute the United States with Europe, there was a new Signal of the U.S. government: Trump postponed his decision on whether the United States impose special duties on car imports from the EU to a maximum of 180 days. Federal Minister Peter Altmaier (CDU) interpreted this step as an “important Signal for the German and European economy, a renewed escalation of the trade conflict could be prevented, for the time being”.
The day before the US President had reduced the duties on steel imports from Turkey by 50 to 25 percent.