U.S. Abandoned Import Tariffs on Canadian Aluminum

SEATTLE (Scrap Monster): The U.S. announced its decision to withdraw recently imposed tariffs on Canadian aluminum. The issue will be revisited every month, based on monthly import volumes.

The surprise announcement came just before Ottawa was just about to declare a range of retaliatory measures against the 10% tariffs imposed by the U.S. administration on aluminum imported from Canada. The retaliatory measures could have had impacts on electoral prospects of President Donald Trump who is in the race for a second term.

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Meantime, the announcement does not mean that the conflict will end any time soon. The U.S. has set monthly targets for aluminum import volumes from Canada without tariff. These volume targets will be effective beginning September. The volumes will be monitored six months after the end of every month. This essentially means that the September volumes will be examined by mid-November, immediately after the presidential election which is scheduled to take place November 3^rd.

The Canadian federal government welcomed the U.S. decision and commented that the move signals that common sense has prevailed. Meantime, it declared that it is still prepared to impose retaliatory measures if necessary.