U.S., Canada confirm deal to end steel, aluminum tariffs

|About: Alcoa Corporation (AA)|By:, SA News Editor

The Canadian government releases a statement saying the U.S. and Canada have agreed to eliminate steel and aluminum tariffs in "no later than two days."

The deal applies to all tariffs imposed by the U.S. under Section 232 - 25% on imports of steel and 10% on aluminum - as well as Canada's retaliatory tariffs including $34B in tariffs on U.S. imports of automobiles, seafood, agriculture, chemicals and optical fiber product.

The two countries also will establish an agreed-upon process for monitoring aluminum and steel trade between them.

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