Trump may exempt tariffs if ‘new & fair NAFTA agreement is signed’
President Donald Trump announced that his tariffs plan on imported aluminium and steel might be exempted Mexico and Canada if they agree to a new & fair NAFTA agreement.
"We have large trade deficits with Mexico and Canada. NAFTA, which is under renegotiation right now, has been a bad deal for USA. Massive relocation of companies and jobs. Tariffs on steel and aluminium will only come off if new & fair NAFTA agreement is signed," Trump tweeted on Monday.
The US, Canada, and Mexico are currently negotiating the North American Free Trade Agreement (NAFTA).
President Donald Trump said that he will impose a 10 per cent import tariff on aluminium and 25 per cent on steel to safeguard U.S. producers. Trump is expected to formalize his tariffs plan this week.
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