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Trump Says He’ll Only Cancel His Trade Tariffs If the U.S. Gets a New NAFTA Deal
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Flora Carr
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Mar 5, 2018 12:47 PM CUT
U.S. President Donald Trump participates in a meeting with leaders of the steel industry at the White House March 1, 2018 in Washington, DC. Trump announced planned tariffs on imported steel and aluminum during the meeting, with details to be released at a later date.
U.S. President Donald Trump participates in a meeting with leaders of the steel industry at the White House March 1, 2018 in Washington, DC. Trump announced planned tariffs on imported steel and aluminum during the meeting, with details to be released at a later date.Photo by Win McNamee—Getty Images
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Mar 5, 2018 12:47 PM CUT
President Donald Trump has indicated on Twitter that his recently announced tariffs on steel and aluminum “will only come off” if an agreement is reached at the North American Free Trade Agreement (NAFTA) talks.
“We have large trade deficits with Mexico and Canada. NAFTA, which is under renegotiation right now, has been a bad deal for U.S.A. Massive relocation of companies & jobs,” Trump tweeted on Monday.
“Tariffs on Steel and Aluminum will only come off if new & fair NAFTA agreement is signed,” he added. He also criticized fellow NAFTA members Canada and Mexico.
The three countries will meet on Monday for the final round of negotiations, and the proposed duties are set to dominate talks, with both Mexico and Canada expected to press on whether they will be exempt from the tariffs.
“I expect [the tariffs]… to be front and centre,” said Kevin Brady, Republican chairman of the U.S. House of Representatives Ways and Means Committee, according to CNBC.
Trump announced that he would impose a 10% tariff on aluminum and a 25% tariff on steel during a Thursday White House meeting with the country’s biggest steel and aluminum manufacturers.