WASHINGTON, US President Donald Trump said Friday he cancelled custom tariffs imposed on steel and aluminium imports from Canada and Mexico, and the two countries would scrap duties on American products.
Trump, speaking to reporters at the White House, said they reached an agreement with Canada and Mexico, according to which the US would export tariff-free products to the two countries.
The US has great relationship with Canada, he said, and hoped Congress would rapidly approve the US-Mexico-Canada Agreement (USMCA).
Trump said the agreement would be in favor of the American farmers.
USMCA, which was signed last November, would replace the North American Free Trade Agreement (NAFTA) if passed by Congress.
The Trump Administration imposed 25 percent duties on steel and 10 percent on aluminium exports from Canada and Mexico. The two countries retaliated by imposing additional tariffs on US imports.
Source: Kuwait News Agency