US reimposes 10% tariff on some Canadian aluminum products
2020-08-07 09:33:34 [Print]
US President Donald Trump has reimposed a 10% tariff on some Canadian aluminum products, saying it was done to protect US industry.
Canada and the US reached a deal last year to lift tariffs on steel and aluminum imports that had been imposed on grounds of "national security".
The US had imposed a 25% tax on steel and 10% on aluminum on Canada in 2018.
Prime Minister Justin Trudeau recently said he believes a new levy would have "no justification".
Speaking in Ohio on Thursday, Mr Trump said the tariffs were necessary to defend the US aluminum industry because Canadian producers had broken their commitment to stop flooding the US market with a cheaper product. The step was "absolutely necessary to defend our aluminum industry," he said.
As part of a 2019 agreement lifting the measures, the US and Canada said they would monitor imports and, if a country is determined to be buying in too much, one of the other nations could request a consultation and potentially reimpose tariffs.
A 10% tariff on imports of "non-alloyed unwrought aluminum from Canada" was imposed on Thursday.
Canada and the US reached a deal last year to lift tariffs on steel and aluminum imports that had been imposed on grounds of "national security".
The US had imposed a 25% tax on steel and 10% on aluminum on Canada in 2018.
Prime Minister Justin Trudeau recently said he believes a new levy would have "no justification".
Speaking in Ohio on Thursday, Mr Trump said the tariffs were necessary to defend the US aluminum industry because Canadian producers had broken their commitment to stop flooding the US market with a cheaper product. The step was "absolutely necessary to defend our aluminum industry," he said.
As part of a 2019 agreement lifting the measures, the US and Canada said they would monitor imports and, if a country is determined to be buying in too much, one of the other nations could request a consultation and potentially reimpose tariffs.
A 10% tariff on imports of "non-alloyed unwrought aluminum from Canada" was imposed on Thursday.
Aluminum Alloy ADC12 FOB China
Unit:USD/mt
China secondary aluminum alloy producers' inventory statistics by province by month
Unit: mt
