The US tariffs on steel and aluminum imports from Canada and Mexico were removed today. A little more than a year after being imposed, the 25 percent tariff on steel and 10 percent tariff on aluminum was withdrawn.
In an announcement on Friday, May 17th, the Canadian government announced that both countries would prevent the import of unfairly subsidized metals or those sold at “dumped” prices and the transshipment of the metals from other countries.
Canada and the US also agreed that if imports of the metals increased markedly from previous years, the importing country may request consultations with the exporting country. Under these circumstances, the tariffs could be reapplied and would likely include retaliatory tariffs from the other country.
Canada and Mexico have both lifted the retaliatory tariffs that had been imposed on a slew of US goods. If you have questions on your goods, please contact Deringer’s Compliance Department.