Trump Lifts Section 232 Tariffs from Mexico & Canada
Trump Lifts Section 232 Tariffs from Mexico & Canada
Steel and Aluminum Imports
On May 17, 2019, the United States Trade Representative announced, “an agreement with Canada and Mexico to remove the Section 232 tariffs for steel and aluminum imports from those countries and for the removal of all retaliatory tariffs imposed on American goods by those countries. The agreement provides for aggressive monitoring and a mechanism to prevent surges in imports of steel and aluminum. If surges in imports of specific steel and aluminum products occur, the United States may re-impose Section 232 tariffs on those products. Any retaliation by Canada and Mexico would then be limited to steel and aluminum products. This agreement is great news for American farmers that have been subject to retaliatory tariffs from Canada and Mexico. At the same time, the Agreement will continue to protect America’s steel and aluminum industries.”
Removal of all Retaliatory Tariffs
To reiterate, the statement includes the removal of ALL retaliatory tariffs imposed by Mexico and Canada on American goods to go into effect on May 20, 2019. Mexico’s list encompasses items such as pork, cheese, apples, cranberries, potatoes, whiskey, and more. Canada’s list encompasses items such as dairy products, whiskey, tableware and kitchenware, hygienic products, motorboats, and more.
To read the joint statement between the United States and each country, see below:
[maxbutton id=”31″ url=”https://thescarbroughgroup.com/wp-content/uploads/2019/05/Joint_Statement_by_the_United_States_and_Canada.pdf” text=”Canada” ] [maxbutton id=”31″ url=”https://thescarbroughgroup.com/wp-content/uploads/2019/05/Joint_Statement_by_the_United_States_and_Mexico.pdf” text=”Mexico” ]
Background
In March 2018, President Trump imposed additional duty rates of 25% on steel imports and 10% on aluminum imports from all originating countries except Australia, Brazil and Argentina. Mexico, Canada and Europe’s effective dates for this tariff continued to be postponed, but eventually went into effect. The below chart is up to date as of May 2019 and captures which countries are affected by Section 232 tariffs imposed by the United States.
