Back-and-forth announcements, retaliatory tariffs and uncertain timelines hog US aluminium businesses
A couple of days after implementing the 25 per cent tariff on all aluminium and steel imports, US President Donald Trump exempted neighbouring nations Canada and Mexico from tariffs, but only for commodities included in the trade agreement of 2019 — the United States-Mexico-Canada Agreement (USMCA). However, the tariff payments made between March 4 and March 6 — when importers had already paid for goods in transit — will not be refunded, according to White House officials.
Image source: https://mr.usembassy.gov/
In a fresh twist, mere hours after threatening to end Canada's exemption, the US has now imposed a staggering 50 per cent tariff just as Canada attempted to negotiate by leveraging energy supply tariffs from them to the US.
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