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[加拿大新聞] Canada and Mexico to be exempt from U.S. tariffs on steel and aluminum

http://www.cbc.ca/news/business/ ... ico-trump-1.4567230
Both countries could lose their special status if White House changes its mind as NAFTA talks unfoldPete Evans · CBC News · Posted: Mar 08, 2018 7:35 AM ET | Last Updated: 22 minutes ago


CBC News
Trump signs tariff on steel and aluminum LIVE


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White House ceremony for President Donald Trump to sign a document to establish tariffs on imports of steel and aluminum 0:001310 comments

Canada and Mexico will be exempt from tariffs on steel and aluminum imported into the United States, but there's no guarantee that will be the case forever.

U.S. President Donald Trump is set to sign off on two proclamations on Thursday, each implementing import tariffs on metals that the United States imports far more from the rest of the world than it produces itself.

The formal signing ceremony is expected to happen in the White House's Roosevelt Room at around 3:30 p.m. ET. One order will impose a 25 per cent tariff on imported steel, and another will slap a 10 per cent levy on aluminum.

Trump first floated the proposal last week, which set off howls of opposition that the moves would kick off a trade war full of reciprocal shots from America's trading partners. The most notable is Canada, which supplies more than a sixth of all the steel that the U.S. uses and more than 40 per cent of its aluminum.

But the tariffs, which are being enacted under section 232 of the little used Trade Expansion Act of 1962, will exempt both metals coming from Canada and Mexico on national security grounds — at least initially.

The so-called "carve out" of Canadian steel and aluminum will allow U.S. trade negotiators to have what a senior administration official described as "ongoing discussions" about various issues between the three countries.

That's a thinly veiled reference to NAFTA negotiations, which are currently in their eighth round of talks as the three countries seek to update the more than two-decade old agreement that governs trade between them. But beyond NAFTA, "the focus is on the broader security relationship with these two countries," the official said.

It also sets up the potential that should the U.S. not get the concessions it wants from those talks, Canadian metal producers could soon find themselves subject to the same punitive tariff as everyone else.

Canada exported a combined $15 billion of the two metals to the U.S. last year, so a tariff would bite deep and likely prompt some sort of retaliatory tariff on U.S. goods imported into Canada.

"We're going to be throwing NAFTA into it," Trump said of the tariff plan ahead of the signing ceremony.

Donald J. Trump

Looking forward to 3:30 P.M. meeting today at the White House. We have to protect & build our Steel and Aluminum Industries while at the same time showing great flexibility and cooperation toward those that are real friends  and treat us fairly on both trade and the military.

4:38 AM - Mar 8, 2018

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Once the orders are signed, the new tariffs will be in effect in 15 days on Friday, March 23. Under U.S. law, tariffs enacted under section 232 are by definition temporary — only Congress has the power to issue permanent tariffs.

But the White House on Thursday gave no indication as to just how long they may be in effect.

The president did say, however, that the administration is open to granting other countries a similar exemption on national security grounds, just as it has done for Canada, for now.

Critics of the proposal have claimed that there will be a heavy price to be paid both in terms of jobs from steel-dependent industries in the U.S., and also consumer prices.

But the administration official dismissed both of those concerns, noting that the impact of the aluminum tariff would add between 1.5 and two cents to the price of a six-pack of canned beer. The official gave the example of a Boeing 777 jet, with a sticker price of $330 million US per plane.

New tariff rules would add about $25,000 to the price of that plane — or less than one one thousandth of one per cent.