Canada and the U.S. have reached a deal to end aluminum and steel tariffs.
According to reports, the removal of the tariffs, which have had significant effect on exports to the U.S., as well as imports from the U.S., is incumbent on anti-dumping actions to prevent metals from other countries from entering the US.
The action also hinges on the removal of countervailing tarrifs on some $12 billion of U.S. goods including pork products including pork, beef and bourbon coming into Canada.
The much anticipated move comes after foreign affairs Minister Chrystia Freeland ventured to Washington, D.C. for meetings this past week.
Mexico has reportedly reached similar accommodations.
In addition to the direct impact of the tariffs on trade, they also stood as a significant barrier to the ratification of the USMCA, often referred to as NAFTA 2.0.
With the removal of the tariffs, the path to ratification for that agreement is now significantly clearer.