International Trade Council welcomes the decision of the United States to drop the proposed 10% tariff on certain types of Canadian aluminum. The tariff was announced by President Donald Trump just last month, citing a flood of under-priced metal into the country.
After determining that imports were likely to decline after an earlier surge, the US backed off the plan. If shipments do not fall as expected, officials said they would apply tariffs to the excess.
Canadian leaders said they welcomed the US decision, and in response, they would suspend the plans to impose tariffs on C$3.6bn ($2.7bn, £2.1bn) in US aluminum products.
"This is really a day when common sense has prevailed, and that's good news," said Chrystia Freeland, Canada's finance minister. "After four years of working with this American administration, we have understood that we have to be ready for anything. We have to expect any possibility, and we will continue being ready for any possibility."
The US first imposed tariffs on foreign steel and aluminum in 2018, citing national security concerns. The move caused a furor, especially among the country's traditional allies in Europe and Canada. The Trump administration later exempted certain countries, including Canada, from the levies, which were also controversial within the US.
This decision marks a positive development in US-Canada trade relations, and we hope this will further strengthen the bilateral ties between the two countries. The International Trade Council looks forward to supporting both countries in their efforts to foster mutually beneficial trade relations.