US plans to slap tariffs on aluminium imports from Canada, reports Bloomberg News | Money


If Canada declines to impose export restrictions, the United States will announce on Friday the re-imposition of 10 per cent tariffs on aluminium from the country, the report said. — AFP pic

NEW YORK, June 23— The United States is planning to re-impose tariffs on aluminium imports from Canada, Bloomberg reported late yesterday, citing people familiar with the matter.

If Canada declines to impose export restrictions, the United States will announce on Friday the re-imposition of 10 per cent tariffs on aluminium from the country, the report said.

The tariffs would then be implemented by July 1, the report added, which is also when a new US-Mexico-Canada (USMCA) trade agreement is expected to take effect.

Some industries, including automakers, had been asking for a delayed implementation of the agreement due to the difficulties they are facing amid the coronavirus pandemic.

The USMCA replaces the 26-year-old North American Free Trade Agreement between the three economies.

The office of the United States Trade Representative did not immediately respond to a Reuters request for comment on aluminium tariffs outside regular business hours.

Earlier in the day, the US Supreme Court turned away a challenge to President Donald Trump’s tariffs on imported steel brought by an industry group that had argued that a key part of the law under which he imposed the duties violates the US Constitution.

Trump signed a proclamation this year increasing tariffs on derivative steel products by an additional 25 per cent and on derivative aluminium products by an additional 10 per cent, from which countries including Canada and Mexico were exempted. — Reuters



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