By Erik Sherman, Fortune
May 17, 2019
The U.S. has reached an agreement to drop steel and aluminum tariffs on the two countries in return for preventing Chinese steel from coming over their borders into the U.S.
In a speech before the National Association of Realtors, President Trump said, “I’m pleased to announce that we’ve just reached an agreement with Canada and Mexico and will be selling our product into those countries without the imposition of tariffs or major tariffs,” according to Bloomberg.
This would remove one barrier the new USMCA agreement, the replacement for NAFTA, has faced in getting passage from Congress. Reactions have been relatively positive. “It’s a pretty good agreement,” said Usha Haley, a professor of management and director of the Center for International Business Advancement at Wichita State University and co-author of Subsidies to Chinese Industry. “It looks promising and I think it’s a win for Trump.”
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