Canada Set to Remove Retaliatory Tariffs on U.S. Goods
(MENAFN) Canada is preparing to remove numerous retaliatory tariffs on U.S. products in a bid to de-escalate ongoing trade disputes with Washington, DC, according to a report released on Friday.
Prime Minister Mark Carney is set to formally announce the move following a Cabinet meeting, as confirmed by a media report citing sources with knowledge of the decision.
The policy shift will see a significant number of American-made consumer goods exempt from the 25% tariffs, provided they align with the terms of the US-Mexico-Canada Agreement (USMCA).
However, the report highlights that Canada will maintain its 25% import duties on U.S. steel, aluminum, and automobiles—industries where U.S. President Donald Trump has implemented similar tariffs.
The news comes just one day after Carney and Trump held a "productive" phone conversation regarding trade matters.
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