The extension of the 30-day exemption will depend on progress in NAFTA talks
The US administration plans to offer Mexico and Canada a temporary exemption from new tariffs on steel and aluminum imports, White House official announced quoted by CEEMarketWatch. The United States will give both countries a 30-day exemption, which could be extended based on progress in North American Free Trade Agreement (NAFTA) talks.
This announcement comes after US President Donald Trump proposed tariffs of 25% on steel and 10% on aluminum imports in USA.
Despite Trump’s protectionist rhetoric, CEEMarketWatch expects NAFTA negotiation to end positively before Mexican general elections on July 1.
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