"It's in the U.S.'s economic self-interest to come to an agreement on these areas,"
"Both parties have an interest in settling these quite soon,"
"In a subsequent interview, Sargent said he would not be surprised if an agreement on steel includes what's called a tariff-rate quota: allowing a set amount of Canadian steel into the U.S. each year with zero or minimal tariffs, then dramatically higher tariffs on all imports exceeding the annual quota."
"Why are you putting up the price of my intermediate inputs? All you're doing is making me less competitive with foreign imports into the U.S."
Negotiations between Canada and the United States are nearing a likely deal on tariff relief for Canadian steel and aluminum exports, with renewed momentum after a recent White House meeting. The United States has imposed a 50 percent tariff on steel and aluminum imports from Canada and much of the globe since June. One proposal under consideration is a tariff-rate quota permitting a set amount of Canadian steel into the U.S. each year with low or zero tariffs, and sharply higher tariffs on imports beyond the quota. U.S. manufacturers argue that current tariffs raise input costs and reduce competitiveness, increasing pressure to resolve the issue quickly.
Read at www.cbc.ca
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