Trump Wins Again: Canada Agrees To Drop All United States Tariffs Within 48 Hours!
Trump has negotiated another deal and the United States and Canada will eliminate the tariffs on steel, aluminum and other products within 48 hours. The tariff battle began last summer and it’s conclusion means a big step forward to the new North American Trade Deal. Canadian Prime Minister Justin Trudeau said in a statement that the next step is to work with the United States on timing ratification of the deal.
The U.S. will be “selling our product into those countries without the imposition of tariffs or major tariffs — big difference,” President Trump announced Friday afternoon.
“Now that we’ve had a full lift on these tariffs, we are going to work with the United States on timing ratification” of the U.S.-Mexico-Canada Agreement (USMCA), Canadian Prime Minister Justin Trudeau said Friday afternoon.
“We’re very optimistic we’re going to be able to move forward well in the coming weeks,” Trudeau added.
The U.S. is also lifting steel and aluminum tariffs on Mexico to pave the way for full ratification of the three state agreement.
Congress has signaled they would ratify the agreement when tariffs were dropped.
The agreement also outlines a process for reimposing the tariffs if one of the countries experiences a “surge” of imported steel or aluminum.
In the future, the US and Canada will monitor imports . If a country is determined to be buying in too much, one of the other nations can request a consultation and potentially re-impose tariffs.
The announcement came a day after the Trump administration announced it would delay a decision on imposing new tariffs on foreign automobiles, in part because it said it was working to negotiate new trade agreements with Japan and the European Union.
The spotlight had been on rising trade tensions between the US and China.
President Donald Trump suddenly hiked tariffs on $200 billion worth of Chinese imports last week when they backed down from negotiating a deal.
China said it would respond with “necessary countermeasures,” but then it announced a tariff increase on only $60 billion of U.S. goods. China simply doesn’t import enough from the U.S. to match tariffs “tit-for-tat,” hence the $140 billion shortfall in its retaliation.
On top of that the Chinese economy is at rock bottom, and is showing signs that it could be starting to improve. They are not in a position to negotiate with the United States with any strength.
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After last week’s talks ended with no resolution, both sides said that negotiations would continue, and they are expected to.
Donald Trump has done with tariffs, what no other President has done. He has used them as a powerful negotiating tool, as opposed to a punitive action. The President has said from the beginning that the goal is to have no tariffs at all, and he is winning that battle.
He has had this fight with the EU, and as well as with Germany, with good success.
The United States is leading with strength. We had the ability to play this out with Canada and Mexico, until we won. Our economy is the strongest it has been in half a century. If Donald Trump is given time, I have no doubt that he will win with China as well.
The United States has been in a trade war for decades, we just were not fighting. Donald Trump has stood up and began fighting.
There will be some momentary ramifications, but the long term goal of making trade fair again to the United States is vital.
Cancer treatment is much the same way. The end run is a life or death matter, so the momentary pain to get there, is just a part you have to deal with.
Thank you for fighting Mr. President.