The United States on Tuesday said is standing down in its dispute with Canada over imported aluminum.
The U.S. Trade Representative’s office said it is tentatively lifting its 10 per cent tariff because it expects Canadian exports to “normalize” over the rest of the year.
This comes after Canada said on Tuesday it was to unveil retaliatory tariffs on a range of U.S. goods after Washington moved to impose punitive measures on Canadian aluminum imports, Prime Minister Justin Trudeau said.
“After consultations with the Canadian government, the United States has determined that trade in non-alloyed, unwrought aluminum is likely to normalize in the last four months of 2020, with imports declining sharply from the surges experienced earlier in the year,” the U.S. Trade Representative’s office said in a media release.
“The United States will modify the terms of the 10 percent tariff imposed in August on imports of Canadian non-alloyed unwrought aluminum,” the release stated.