Canada cancels multiple retaliatory tariffs on the US, effective September 1
AFP, Ottawa, 22nd - Canadian Prime Minister Trudeau said today that Canada will exempt tariffs on American goods that meet the current North American Free Trade Agreement (NAFTA) from September 1, in response to the US confirmation of tariff exemptions this month.
At a time when Canada and the US are discussing broader trade agreements, after Trudeau spoke with US President Trump yesterday, he said today that starting September 1, Canada will "exempt all tariffs on American goods" according to the "United States-Mexico-Canada Agreement" (USMCA), so that Canada's tariffs align with the current US tariffs.
Trudeau stated that the agreement Canada has reached with the US is "the best among all countries." He also said that the average tariff rate for goods imported into the US from other countries is currently 16%, significantly higher than the 2% before Trump took office.
Trudeau stated that the US imposes a 5.6% tariff on Canadian goods, "85% of our trade is tariff-free."
Trump praised Canada's decision to exempt tariffs on all American goods under the North American Free Trade Agreement.
Trump told reporters at the White House that the Canadian prime minister would "cancel retaliatory tariffs, and I think that's great," "I like Trudeau, a good person, we had a very good talk yesterday."
Original: www.toutiao.com/article/1841204244404363/
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