US and Canada Reach Deal to Lower Auto and Steel Tariffs
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1h ago

US and Canada Reach Deal to Lower Auto and Steel Tariffs

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The Trump administration is set to reduce tariffs on automobiles imported from Canada to 15% from 25% as part of a trade agreement. This deal would also halve tariffs on Canadian steel and aluminum to 25%. The agreement is contingent on Canada dropping retaliatory trade measures. Sources familiar with the matter indicate this is a broader effort to de-escalate trade tensions between the two countries. No right-leaning outlets reported on this deal, with coverage limited to Bloomberg and Newsmax. The move comes after a period of trade disputes, where the US imposed tariffs on Canadian goods citing national security concerns.

Newsmax reported the deal would halve the top-line tariff rates on Canadian steel and aluminum, a detail also confirmed by Bloomberg. The reduction in auto tariffs, from 25% to 15%, is the central component of the agreement. The full details of the agreement are still under negotiation.

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◀ Left Bloomberg Read original ↗ Right ▶ Newsmax Read original ↗

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