5/17, 9:02 PM (Source: TeleTrader)
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Trudeau: Tariff removal big step towards USMCA ratification

Canadian Prime Minister Justin Trudeau praised on Friday the tariff removal agreement between his country and the United States, noting it was an important step towards the ratification of the United States–Mexico–Canada Agreement (USMCA).

Trudeau called Washington's decision to lift steel and aluminum tariffs "pure good news for Canadians" and voiced optimism the USMCA will be ratified over the next few weeks, as the tariffs represented the greatest hurdle in moving forward with the "new NAFTA." Responding to a question on what Canada had to give up in order to get the tariffs removed, Trudeau noted that Ottawa refused to make concessions that the US asked for, but added the two countries agreed to monitor the industry in order to avoid becoming a "victim" of global pressures.

Earlier, the US and Canada issued a joint statement confirming the import tariffs on steel and aluminum will be lifted within the next 48 hours.

Breaking the News / NP