Canada will lift 25 percent retaliatory levies on U.S. imports that comply with the U.S.-Mexico-Canada Agreement on Sept. 1. Retaliatory levies on U.S. steel, aluminum and autos will remain in place. The change matches a U.S. tariff exemption for USMCA-compliant Canadian goods and has shielded much of Canada's trade from levies, keeping effective U.S. tariff rates on Canada lower than on other nations. The United States is Canada's largest trading partner; Canada is the United States' second-largest. The Canadian move follows a U.S. increase of tariffs on Canadian goods outside USMCA from 25 percent to 35 percent.
Now, Carney said, it will lift its 25 percent levies on U.S. imports that comply with the U.S.-Mexico-Canada Agreement on Sept. 1.
"Canada currently has the best trade deal with the United States," he said. "And while it's different from what we had before, it's still better than that of any other country."
A White House official, speaking on the condition of anonymity to discuss a sensitive matter, said Canada's move was "long overdue." Trump, speaking to reporters in the Oval Office on Friday, called the move "nice" and said the United States wants "to be very good to Canada."
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