US backs off Canadian aluminum tariffs
2020-09-16 12:02:35 [Print]
The US is dropping plans for a 10% tariff on certain types of Canadian aluminum that President Donald Trump announced just last month.
The US said it was backing off after determining that imports were likely to decline after an earlier surge. If the shipments do not fall as expected, officials said they would apply tariffs to the excess.
The reversal comes the same day that Canada was expected to unveil its plans for retaliation.
Canadian leaders said they welcomed the US decision and that, in response, they would suspend the plans to impose tariffs on C$3.6bn ($2.7bn, ￡2.1bn) in US aluminum products.
The US said it was backing off after determining that imports were likely to decline after an earlier surge. If the shipments do not fall as expected, officials said they would apply tariffs to the excess.
The reversal comes the same day that Canada was expected to unveil its plans for retaliation.
Canadian leaders said they welcomed the US decision and that, in response, they would suspend the plans to impose tariffs on C$3.6bn ($2.7bn, ￡2.1bn) in US aluminum products.
Aluminum Alloy ADC12 FOB China
Unit:USD/mt
China secondary aluminum alloy producers' operating rate statistics by province by month
Unit: %
