The Latest on President Donald Trump and U.S. trade tariffs (all times local):
The United States has reached a deal to remove steel and aluminum tariffs on Canada and Mexico, while those nations would scrap retaliatory tariffs they imposed on U.S. products.
That’s according to sources in the U.S. and Canada who spoke on condition of anonymity ahead of an announcement.
The deal removes a major hurdle to the passage of a new pact to replace the North American Free Trade Agreement.
President Donald Trump imposed tariffs last year of 25 percent on steel imports and 10 percent on imported aluminum. He employed a rarely used 1962 law that empowers him to put a levy on products that the Commerce Department determines threaten national security. Canadian Prime Minister Justin Trudeau planned a news conference this afternoon after earlier speaking with Trump.
President Donald Trump is delaying any decision to impose tariffs on car and auto part imports, deciding against ratcheting up trade disputes or impacting talks with European nations and Japan.
Trump announced his decision to delay for up to six months in a proclamation issued by the White House on Friday.
He was required to make a decision on Commerce Department recommendations aimed to protect the U.S. auto industry, based on national security concerns.
Trump directed his trade team to pursue negotiations and address the impact that imports are having on the U.S. auto industry and its ability to invest in new research and development that he says is critical to the nation’s security.
Trump says he’ll decide whether to take further action in 180 days.