Canada will remove retaliatory tariffs on US goods specifically covered under USMCA, matching exemptions offered by the United States, effective September 1. The United States clarified that it will not impose tariffs on Canadian goods that comply with the US-Mexico-Canada Agreement. Some sectoral duties on steel, aluminium and cars will remain in place. Free trade has been re-established for the vast majority of goods between the two countries. Full pre-tariff integration is unlikely to return, though the outcome is characterized as the best possible under the circumstances. The United States administration welcomed the move.
Canadian Prime Minister Mark Carney has said that his country will drop retaliatory tariffs in tandem with tariff exemptions offered by the United States, as the two ease away from their costly trade war. Speaking to reporters on Friday, Carney said that the US clarified that it will not impose tariffs on Canadian goods that comply with the US-Mexico-Canada free trade agreement.
In this context and consistent with Canada's commitment to USMCA, I am announcing today that the Canadian government will now match the United States by removing all of Canada's tariffs on US goods specifically covered under USMCA, said Carney, noting that the change would take effect on September 1. Canada and the US have now re-established free trade for the vast majority of our goods, he added.
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