US-Canada Trade Deal Seen Cutting Steel and Aluminum Tariffs to 25%
A source familiar with the talks said the expected U.S.-Canada trade deal would lower U.S. tariffs on Canadian steel and aluminum to 25%, with quota arrangements, and cut tariffs on Canadian autos to 15%.
The emerging U.S.-Canada trade deal is expected to lower top-line U.S. tariff rates on Canadian steel and aluminum to 25%, a source familiar with the negotiations said. The arrangement would also include some quota provisions for those sectors.
Canadian autos would receive a lower expected tariff rate of 15%, according to the same source.
The reported terms suggest a negotiated compromise rather than an elimination of duties, with steel and aluminum still facing significant tariffs alongside quota limits. The source did not provide additional details on the timing of implementation, the structure of the quotas, or whether further reductions could follow.
Source: First Squawk