Ocnus.Net
News Before It's News
About us | Ocnus? |

Front Page 
 
 Africa
 
 Analyses
 
 Business
 
 Dark Side
 
 Defence & Arms
 
 Dysfunctions
 
 Editorial
 
 International
 
 Labour
 
 Light Side
 
 Research
Search

Business Last Updated: Sep 17, 2020 - 11:50:08 AM


US to remove tariffs on Canadian aluminum, Ottawa drops threat of retaliation
By Reuters, 16th September 2020
Sep 16, 2020 - 2:44:27 PM

Email this article
 Printer friendly page

WASHINGTON/OTTAWA - The Trump administration said on Tuesday it will remove 10% US tariffs on raw Canadian aluminum as long as imports of the metal stay below levels that are expected to "normalise" over the next four months.

In response, Canada dropped a threat to impose billions of dollars of retaliatory sanctions, marking the end of a spat between the major trading partners.

The US Trade Representative's office said the decision came after consultations with Ottawa determined that aluminum imports during the September-December period of 2020 were expected to fall 50% from the January-July period.

US President Donald Trump had reimposed a 10% tariff on non-alloyed, unwrought aluminum from Canada in August after a surge in imports across the northern US border.

Canadian Trade Minister Mary Ng said the US announcement marked an end to an "incredibly difficult" few months for domestic producers.

"Canada has not conceded anything. We fully retain our right to impose our countermeasures if the US administration decides to reimpose its tariffs on Canadian aluminum products, and we are prepared to do so," she told a news conference in Ottawa

USTR said that it now expected raw aluminum imports from Canada to be 70 000 t/m to 83 000 t/m through December. If it is determined that in any month imports exceed 105% of those levels, USTR said it will retroactively impose the 10%tariffs on all shipments for that month.

Canada has always rejected the idea of quotas on aluminum exports. When questioned about the US levels, Deputy Prime Minister Chrystia Freeland said: "This is not a negotiated deal ... we have not negotiated an agreement with the United States on quotas".

Rio Tinto Aluminum CEO Alf Barrios said the US move was "a positive step that ensures the North American aluminum supply chain remains strong in the face of challenging global conditions."


Source:Ocnus.net 2020

Top of Page

Business
Latest Headlines
Ammonia and Methanol are the Likeliest Future Fuels
'Colossal Backdoor Bailout': Outrage as Pentagon Funnels Hundreds of Millions Meant for Covid Supplies to Private Defense Contractors
Taliban's Expanding 'Financial Power' Could Make It 'Impervious' To Pressure, Confidential NATO Report Warns
Business Rather than Decoupling
US to remove tariffs on Canadian aluminum, Ottawa drops threat of retaliation
The Top 1% of Americans Have Taken $50 Trillion From the Bottom 90%—And That's Made the U.S. Less Secure
China set to step in and hold down box line rates, with ocean freight 'a global mess'
Uganda, Tanzania Sign Deal For Construction Of Crude Oil Pipeline Project
Second Wave of Floating Storage Triggered by Ailing Oil Market
Russian Fuel Oil Is A Hit In The U.S.