Canada takes a significant step in weakening of trade friction with the United States, announcing the abolition of many response tariffs for American goods, which are subject to USMCA, starting on September 1, Prime Minister Mark Karni said during a press conference. Which is significantly lower than the average world indicator of 16 percent. He emphasized that 85 percent of Canadian-American trade is already duty-free, which emphasizes the depth of integration between the two economies.
The tension in trade in steel and aluminum remains
Despite the weakening of tariffs for many goods, Canada will retain its position regarding the import of steel and aluminum from the USA. Carni repeated that Canada retains its 25 percent tariffs, which is the answer to the President of Trump to increase the tariffs for Canadian steel and aluminum from 25 to 50 percent.
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