US Set to Cut Tariffs on Canada Metals, Autos in Trade Deal

The United States and Canada negotiated a tentative trade agreement that would reduce tariffs on Canadian steel and aluminum exports to 25% and lower duties on Canadian automotive exports to 15%, according to Bloomberg. Tariffs on non-US content in vehicles exported from Canada would decrease from 25% to 15%. The proposed reductions on steel and aluminum would generally cut US tariff rates on those metals by half.

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