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Trump Trade War - Steel tariffs could hurt USMCA passage

Steel News - Published on Tue, 20 Nov 2018

Image Source: Washington Examiner
Washington Examiner reported that a coalition of 34 business groups warned the Trump administration Monday that keeping in place its steel and aluminum tariffs against Canada and Mexico could imperil passage of the US-Mexico-Canada Agreement on trade. The business groups said in a letter to US Trade Representative Robert Lighthizer "The continuation of these tariffs with respect to Mexico and Canada will create impediments to Congressional passage of the USMCA implementing bill given concerns expressed by members of Congress about the use of these tariffs with respect to our two closest allies. The business community supports the removal of this potential impediment to Congressional approval of the USMCA."

The groups also warned that they were strongly opposed to replacing tariffs with a quota system that would limit the amount of goods allowed into the US.

Signatories to the letter included the US Chamber of Commerce, the American Chemistry Council, the National Retail Federation, and the Alliance of Automobile Manufacturers. The groups said they backed the USMCA deal itself, calling it a chance for all sectors of the US economy to benefit.

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Posted By : Ratan Singh on Tue, 20 Nov 2018
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