Aluminium Association of Canada hopes 'new Nafta' to end 232
Aluminium Association of Canada president and chief executive officer Jean Simard hopes the new United States-Mexico-Canada Agreement (USMCA) reached on Sunday September 30 will lead to a swift resolution of the dispute over 10% US tariffs imposed beginning June 1.
In terms of the general side letter on Section 232 tariffs, it commits the US to holding off on imposing such tariffs for 60 days after a decision is made to erect such duties.
During that time, “the United States and Canada shall seek to negotiate an appropriate outcome based on industry dynamics and historical trading patterns,” the note states. If the US then goes ahead and imposes such duties anyway Canada can impose retaliatory tariffs (as it has done in the ongoing dispute over aluminium and steel tariffs) and also challenge such duties at the World Trade Organization, it added.
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