🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Canada working to put pressure on Trump over metals tariffs - PM

Published 11/01/2019, 03:34
Updated 11/01/2019, 03:35
© Reuters. FILE PHOTO -  G20 leaders summit in Buenos Aires

OTTAWA (Reuters) - Canada is working with politicians and businesses in the United States to pressure President Donald Trump to scrap tariffs on its steel and aluminium, Prime Minister Justin Trudeau said on Thursday.

Trump imposed the measures last May, citing national security. Canada condemned the move and initially suggested it would not ink a new continental trade pact with the United States and Mexico unless the sanctions were lifted.

Trudeau, who did end up signing the U.S.-Mexico-Canada (USMCA) agreement last November, said the government was trying to change Trump's mind as the United States prepared to start the ratification of the pact.

"We have already been working with members of Congress, with governors, with business interests who are being affected negatively by these tariffs ... to put pressure on the President that in the process of ratification, they (the United States) should remove those steel and aluminium tariffs," he said.

Trudeau made his remarks during a televised question-and-answer session with an audience in Regina in the western province of Saskatchewan.

Asked why he had signed the USMCA with the tariffs still in place, Trudeau said securing the deal "at a time of unpredictability and protectionism in the United States was a massive priority for all Canadians".

Canada sends 75 percent of all its goods exports to the United States.

Trudeau and Trump discussed the tariffs on Monday but no talks on lifting the sanctions are planned, a Canadian source familiar with the matter said.

© Reuters. FILE PHOTO -  G20 leaders summit in Buenos Aires

U.S. Senate Finance Committee Chairman Charles Grassley said on Wednesday the measures would have to be lifted in order to get agricultural interests to support congressional approval for the USMCA.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.