The United States has reached a deal to lift the steel and aluminum tariffs imposed on imports from Canada and Mexico.
A CNBC report says that removes a major obstacle to passing the U.S.-Mexico-Canada Trade Agreement.
The Canadian and American governments say the tariffs will end in a couple of days. Canada will remove tariffs it levied on American goods in retaliation for the steel and aluminum tariffs.
The countries will also drop all pending litigation before the World Trade Organization.
While the U.S. and Canada officially announced the deal, Mexico hadn’t put out any kind of statement in mid-Friday afternoon.
Trump mentioned the tariff removal during a speech to the National Association of American Realtors.
“I’m pleased to announce we’ve just reached an agreement with Canada and Mexico to sell products without the imposition of major tariffs,” he said to the crowd.
Canada’s Prime Minister Justin Trudeau says:
“Now that we’ve had a full lift on these tariffs, we are going to work with the United States on timing for ratification of USMCA.”
He’s “optimistic” about moving the trade agreement forward in the weeks ahead.