Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
CO-PRESENTED BY
LIVE TV DownloadNews18 App
News18 English

Lok Sabha Elections 2019Exit Poll Results

All India Figures

Assembly Elections 2019 Exit Poll Results

»
2-min read

US Reaches Deal with Canada, Mexico to Lift Tariffs on Steel and Aluminum

Elimination of these tariffs is expected to remove a significant barrier to passing the United States-Mexico-Canada Agreement (USMCA). The USD 1.4 trillion in North American trade supports more than 12 million American jobs.

PTI

Updated:May 18, 2019, 9:09 AM IST
facebookTwittergoogleskypewhatsapp
US Reaches Deal with Canada, Mexico to Lift Tariffs on Steel and Aluminum
File photo of US President Donald Trump. (Image: Reuters)
Loading...
Washington: The US on Friday reached an agreement with Canada and Mexico to lift tariffs on steel and aluminum, and the corresponding retaliatory tariffs, a move likely to ease trade tensions between the three North American countries.

Elimination of these tariffs is expected to remove a significant barrier to passing the United States-Mexico-Canada Agreement (USMCA). The USD 1.4 trillion in North American trade supports more than 12 million American jobs.

"I'm pleased to announce that we've just reached an agreement with Canada and Mexico and will be selling our product into those countries without the imposition of tariffs or major tariffs," Trump said in his address to the National Association of Realtors Legislative Meeting.

Trump said the agreement is going to be a "fantastic deal" for the US.

He hoped the Congress will approve the USMCA quickly.

"And then the great farmers and manufacturers and steel plants will make our economy even more successful than it already is if that's possible -- which it is possible," he said.
Earlier, Trump spoke with Canadian Prime Minister Justin Trudeau.

"The two leaders discussed the United States' Section 232 tariffs on steel and aluminum and Canada's retaliatory tariffs. The two leaders also discussed relations with China, uranium, and the new NAFTA," a Canadian press release said.

Such an agreement between the US, Canada and Mexico clears a major obstacle to the congressional approval of new North American trade deal called USMCA.

The steep US tariffs imposed last year -- 25 per cent on steel and 10 per cent on aluminum -- became a major stumbling block to ratifying a new North American trade pact negotiated last year by the three countries.

US Commerce Secretary Wilbur Ross said Trump's strategy has worked.

By acting in the best interests of national security, the President's imposition of Section 232 tariffs has brought American steel and aluminum plants roaring back to life, providing thousands of new jobs and billions of dollars of investment across our nation, he said.

"These industries are crucial to protect our national security and critical infrastructure, and this deal is another notch in the long line of successes of President Trump," Ross said.

House Republican Leader Kevin McCarthy said the Trump Administration's deal with Canada and Mexico to lift tariffs on steel and aluminum imports marks another major milestone that gets us one step closer to ratifying the USMCA.

"This administration continues to follow through on their commitment to looking out for the best interests of American companies and consumers," he said.

Studies are predicting passage of the USMCA would boost our already booming economy by billions of dollars and would add nearly 200,000 jobs to the US labour market, he added.

It is encouraging to see this agreement with Canada and Mexico, said House Speaker Nancy Pelosi.

"It is my hope that the Trump Administration will work with the rest of our allies to refocus on standing up to China's trade cheating instead of recklessly antagonizing our allies and inviting retaliation on American workers and goods," she said.

Senate Minority Leader, Chuck Schumer described this as a good development.

"I have always said that we should be focusing our efforts on China, not on Mexico, Canada or Europe," he said.

"It is a good thing these tariffs will be lifted, and we should urge our allies to join us in preventing China's predatory practices. There are still many other issues that are outstanding before Democrats would support the USMCA," Schumer said.
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
 
 

Live TV

Loading...
Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results