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News & Press: Industry News

U.S removes aluminum tariffs, clearing major hurdle for USMCA trade pact ratification

Friday, May 17, 2019  
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The 10% aluminum tariffs the U.S. placed on its two neighbors, Canada and Mexico, in the name of national security were removed. As part of the agreement, the U.S. will be able to re-impose the tariffs on metals imports if not enough is done to prevent any surge of metals imports beyond historical levels. The nations have also agreed to ramp up efforts to trace where the metals have come from originally, to stop the diversion of shipments from other nations to dodge tariffs, otherwise known as transshiping.

The enforcement system will aim to advantage primary steel and aluminum producers in the three-nation trading bloc to ensure that the metal is melted, poured or smelted regionally. More...