Trump Delays Imposing Tariffs on Auto Imports and Parts

Trump Delays Imposing Tariffs on Auto Imports and Parts

The United States is close to a deal to remove tariffs on steel and aluminum imports from Canada and Mexico, which could help the three countries' trade pact get ratified in the U.S. Congress, according to media reports on Friday.

The agreement says the US and Canada will establish a process for monitoring steel and aluminum trade between them.

The agreement says the US and Canada will establish a process for monitoring steel and aluminum trade between them.

Canada, Maine's biggest trading partner, is not a significant supplier of aluminum or steel to Maine. But Mexico supplied about $12 million of aluminum, iron and steel goods to ME previous year, roughly 19 percent of the $65 million ME imported from Mexico in 2018.

In March 2018, Trump announced that he would slap a 25 percent tariff on steel and a 10 percent tariff on aluminum imports in an effort to bolster United States steel manufacturers.

"But it looks like some sense of sanity has prevailed in the White House at long last, helped along the way by huge pressure from the US private sector that found these surcharges to be very hurtful". -Mexico-Canada deal swiftly.

Sources in the US and Canada said the Trump administration also has reached a deal to remove steel and aluminum tariffs from Mexico.

Almost 160 bipartisan members of Congress urged the top White House economic adviser, Larry Kudlow, in a letter earlier this month not to place tariffs as high as 25% on vehicles entering the US.

This comes on the heels of the USA reaching a deal to life steel and aluminum tariffs on Canada and Mexico.

According to the agreement, Canada and Mexico will withdraw all complaints lodged against the United States at the World Trade Organization.

"The case remains clear - cars are not a national security threat", the Alliance of Automobile Manufacturers, an industry trade group, said in a statement. The United States past year imported $192 billion worth of passenger vehicles and $159 billion in auto parts.

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The Commerce Department reached the same conclusion about Canadian and Mexican steel and aluminum imports nearly one year ago.

Canada and Mexico had demanded that the tariffs be removed before they would sign on to the renegotiated NAFTA trade deal, which Trump calls the USMCA, for US, Mexico and Canada Agreement.

The two countries issued a joint statement on Friday confirming that they had agreed to eliminate the tariffs within 48 hours. Not even American automakers support it.

"I don't think there is any more doubt about it, the president is far more attracted to managing imports than expanding exports", said Rufus Yerxa, president of the National Foreign Trade Council.

In Washington, some were urging Trump to take advantage of the truce with US allies to get even tougher with China.

Spokespeople for U.S. Trade Representative Robert Lighthizer and Commerce Secretary Wilbur Ross did not immediately respond to a request for comment.

USA automakers ostensibly would benefit from a tax on their foreign competitors.

World Trade Organization rules bar voluntary export restraints and the European Union has repeatedly said it would not agree to any quotas on auto exports.

The U.S. imported passenger vehicles worth $191.7 billion a year ago, up 15 percent from 2014, according to the International Trade Administration.

Foreign companies supplied theU. Republican senators, led by Finance Committee Chairman Chuck Grassley of Iowa, have emphasized the urgency of approving USMCA, and the importance of removing existing tariffs and avoiding new ones. Some U.S. lawmakers say passage would become more hard after the recess due to budget battles expected in the fall and increased 2020 presidential campaign activity.

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