Leaders of Mexico, US, and Canada signs the new deal, USMCA

US Finally Lifts Steel and Aluminium Tariffs on Canada and Mexico

After a controversial decision to enforce tariffs on aluminium and steel imports from Canada and Mexico last year, United States -- under the Trump administration finally decides to remove it, as announced today. This act is also means as a removal of one key obstacle to passing updates to the North American Free Trade Agreement.

Trump stated that he is pleased to announce the reach of an agreement with Canada and Mexico to sell product without the imposition of major tariffs.

Canada and Mexico greets this decision with enthusiasm. In return, both Canada and Mexico will also take down their retaliatory tariffs. Canada will remove tariffs enforced on American goods in retaliation for the steel and aluminum duties, while Mexico put out its tariffs on American food and steel and cease pending litigation. The agreement will be effectively run two days after the joint statement on Friday. 

This effort to have the metals tariffs lifted between the United States and the two countries will be ratified and tied under The United States-Mexico-Canada Agreement (USMCA) to replace the old NAFTA. It is hoped that the ratification will boost the economy more between the three countries.  

Source: https://www.cnbc.com/2019/05/17/us-to-announce-deal-to-lift-steel-and-aluminum-tariffs-on-canada-and-mexico-as-soon-as-today-sources.html