NEWSBREAK: US removes Section 232 tariffs against Canada, Mexico

The United States has reached an agreement to remove Section 232 tariffs from Canada and Mexico, US President Donald Trump said on Friday May 17.

The deal is expected to pave the way for the passage of the United States-Mexico-Canada agreement, the replacement for the North American Free Trade Agreement.

Trump implemented the tariffs – 25% on steel imports and 10% on aluminium imports – in March 2018. Those tariffs were applied to Canada and Mexico, along with the European Union, on June 1, 2018, causing a major disruption in the US steel and aluminium markets, as well as markets around the world.