US said to halve tariffs on Canada steel, aluminum in trade deal, Bloomberg News reports
The tentative trade deal between the U.S. and Canada would lower tariffs on certain Canadian exports of steel and aluminum to 25 percent, Bloomberg News reported on Wednesday, citing people familiar with the matter. Reuters could not immediately verify the report.
The US and Canada are reportedly close to a trade deal that would lower tariffs on certain Canadian exports of steel and aluminum. According to Bloomberg News, cited by The Korea Times, the tentative agreement would set tariffs at 25 percent.
The US had threatened to impose 50 percent tariffs on $29 billion worth of Canadian goods, but the deadline for this action passed without incident, reports The New York Times. The two countries are seeking to finalize the details of the deal before a new tariff deadline on the weekend.
The talks have made "significant progress", according to Prime Minister Carney, as reported by BBC World. However, questions remain about what Canada would give up and what it would get in exchange, The New York Times adds.
Brief written by urgent.news from The Korea Times, The Korea Times, National Post, The New York Times, BBC World — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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