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United States announces deal with Canada and Mexico to lift retaliatory tariffs

This news story was published on May 18, 2019.
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Trade deal reached in North America

WASHINGTON, D.C. – On Friday, the United States 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.

Kim Reynolds

Gov. Kim Reynolds released the following statement on an agreement with Canada, Mexico, and the United States removing all steel, aluminium, and retaliatory tariffs:

“Today represents a significant step forward for Iowa’s agriculture and manufacturing industries. Mexico and Canada are Iowa’s top two trading partners, and the removal of steel, aluminium, and retaliatory tariffs will increase exports of Iowa products. I want to thank President Trump and his administration for leading on this important issue throughout the entire negotiation process. Now that these tariffs have been lifted, it’s critical for Congress to ratify the USMCA as soon as possible.”

U.S. Secretary of Agriculture Sonny Perdue released the following statement:

“Today’s announcement is a big win for American agriculture and the economy as a whole. I thank President Trump for negotiating a great deal and for negotiating the removal of these tariffs. Canada and Mexico are two of our top three trading partners, and it is my expectation that they will immediately pull back their retaliatory tariffs against our agricultural products. Congress should move swiftly to ratify the USMCA so American farmers can begin to benefit from the agreement.”

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