A surge in unprocessed aluminum imports from Canada prompted Washington to re-impose tariffs in August, straining relations with its close ally Canada.
|Finished aluminum Canada. (Photo: THE CANADIAN PRESS / TTXVN)|
US President Donald Trump on October 27 announced the official lifting of tariffs on crude aluminum imported from Canada, but warned that the tariff measures will be restored if the import of this product from Canada increases. .
According to the Vietnam-based correspondent in Ottawa, since mid September, the US Trade Representative Office (USTR) announced that the removal of the 10% tax on Canadian aluminum takes effect retroactively from September 1. .
Previously, the 10% tax policy on Canadian aluminum was announced to take effect from August 16 and apply to raw aluminum – a product that accounts for 59% of Canada’s total aluminum exports to the US in 2019.
The administration of President Donald Trump has granted Canada an exemption from aluminum taxes in 2019, however, a surge in unprocessed aluminum imports from Canada has prompted Washington to re-impose tariffs in August, causing strain. straight in relations with close ally Canada.
According to the USTR, Canada is expected to export only 70,000-83,000 tons of crude aluminum / month during the period from now to the end of December, equivalent to half of the export volume / month during the period from January to July.
The announcement of the US administration emphasizes that the US will closely monitor the import situation and the two countries will continue to discuss in December 2020 to consider the import level and forecast the market conditions in 2021.