5/17, 4:21 PM (Source: TeleTrader)
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US-Canada metal tariffs deal possible today - report

The United States and Canada are nearing a deal on the removal of tariffs on steel and aluminum imports, CBC News reported on Friday citing a person close to the matter. According to the source, the agreement could be announced before the end of the day as final "high-level discussions" between the two sides are in progress at the moment.

The US imposed a 25% duty on steel and 10% tariff on aluminum imports from Canada a year ago. Earlier this week US Treasury Secretary Steven Mnuchin said the two countries are close to reaching an understanding on metal tariffs. Meanwhile, Canadian Foreign Minister Chrystia Freeland warned that the ratification of the United States–Mexico–Canada Agreement (USMCA) would be "very problematic" if Washington refused to remove the duties but remained confident an agreement will be reached.

Breaking the News / NP