Wednesday, December 12, 2018Canada's Leading Online Business Magazine

Canada Exempt from U.S. Tariffs — For Now

Trade Tariffs

CBJ — Canada and Mexico will be exempt from tariffs on steel and aluminum imported into the United States, but there’s no guarantee that will be the case forever.

U.S. President Donald Trump signed off on two proclamations taking aim at the imports of two metals where the U.S. economy uses far more than it produces.

“The actions we’re taking today are not a matter of choice,” Trump said. “They’re a matter of necessity for our national security.”

One order imposes a 25% tariff on imported steel, while another slaps a 10% levy on aluminum.

“They drove our plants out of business,” Trump said, speaking of foreign metal companies that sell their products in the U.S.

Once the orders are signed, the new tariffs will be in effect in 15 days on Friday, March 23. Under U.S. law, tariffs enacted under section 232 are by definition temporary — only Congress has the power to issue permanent tariffs.

@CanBizJournal

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