US reaches deal with Canada, Mexico to lift steel, aluminium tariffs

AVA- The Washington Post reported on Friday that the United States will lift tariffs on steel and aluminum within 48 hours in exchange for tough new measures to prevent Chinese steel from entering the United States from Mexico and Canada, a practice known as trans-shipment.
The deal avoids quotas on steel from the two countries, which Canada and Mexico had opposed, the Post said.
The agreement, which avoids quotas on steel from the two countries, is a significant step toward winning congressional approval of the trade treaty between Canada, Mexico and the United States.
Canada's Prime Minister Justin Trudeau has said the US imposition of tariffs on metal imports is an insult to their long standing security partnership.
He has warned that Trump's move will apart from hurting Canadian jobs will also have an adverse affect on US jobs as well.
Trump hit Canada and Mexico with import tariffs on their steel and aluminum last year.
Trump castigated Canada, saying it had treated US farmers “very poorly for a very long period of time”.
Trump had vowed to pull the US out of the NAFTA treaty. Last year, he made a new deal with the US neighbors to replace NAFTA.
Following over a year of negotiations aimed at revamping NAFTA, the US and Canada announced in a statement in October 2018 that they finalized the United States-Mexico-Canada Agreement (USMCA) to replace the nearly 25-year-old NAFTA.