U.S. Reportedly Considering Aluminum, Steel Tariffs on Canada

SEATTLE (Scrap Monster): The Trump administration is thought to be considering reviving tariffs on aluminum and, possibly, steel imports from Canada.

The administration has noted an increase in such imports recently, U.S. Trade Representative Robert Lighthizer told the Senate Finance Committee in June, adding, “It’s something of genuine concern to us and that we are looking at.”

Canadian Prime Minister Justin Trudeau said he is “concerned” about the possibility of the tariffs being imposed “at a time of economic strain and stress,” a sentiment that he expressed to President Trump during a conversation on July 13.

“I impressed upon him that it would be a shame to see tariffs come between our two countries at a time where we’re celebrating [a renegotiated] NAFTA, at a time where we want our businesses or manufacturers to get going as quickly as possible, and we pledged to keep working on it together,” Trudeau said.

The United States imposed 25 percent tariffs on steel and 10 percent on aluminum imported from much of the world, including Canada, in 2018. Given that the rationale for the tariffs was national security, this produced consternation from the country that is America’s closest ally and biggest trading partner. The two nations reached an agreement to lift the tariffs last year. The pact allows for either country to impose tariffs if “imports of aluminum or steel products surge meaningfully beyond historic volumes of trade over a period of time.”

Courtesy: AIIS