On September 30, 2018, Prime Minister Justin Trudeau and Minister of Foreign Affairs Chrystia Freeland announced that Canada has finally reached a trade deal with the United States. The United States-Mexico-Canada Agreement (USMCA) is a modernized agreement that will replace the formerly known North American Free Trade Agreement (NAFTA).
While this new agreement presents no new losses in general for the steel industry, the Canadian government was unable to negotiate the removal of the tariffs imposed by U.S. Section 232. As a result, the 25% steel tariffs on Canadian imports going into the U.S. will remain in place with no resolution being discussed for the near future.
The Government of Canada has published a detailed listing of what’s included in the newly established trade deal, USMCA. This listing can be found in the link below.
The CISC remains actively urging the Canadian government to begin negotiations to remove Section 232 tariffs immediately.
