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    Home > Chemicals Industry > International Chemical > Mexico and Canada may be exempt from U.S. metal import duties

    Mexico and Canada may be exempt from U.S. metal import duties

    • Last Update: 2022-12-26
    • Source: Internet
    • Author: User
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    A few days ago, US President Donald Trump suggested that if Canada, Mexico and the United States sign a new trade agreement, the two countries could exempt the proposed metal import tariffs
    .

    Mexico and Canada may be exempt from U.
    S.
    metal import duties

    The U.
    S.
    government recently announced plans to impose a 25 percent import tariff on steel and a 10 percent
    import tariff on aluminum.

    Trump tweeted: "We have a huge trade deficit
    with Mexico and Canada.
    NAFTA is a bad deal
    for the United States.
    The agreement is now being renegotiated
    .
    If the new, fair North American Free Trade Agreement is signed, import tariffs on steel and aluminum will only come down
    .

    Media reports suggest that tax increases could hinder the president's policies to protect jobs in the country's
    energy sector.

    That means if a company is building a pipeline out of $500,000 worth of steel, it will have to pay $125,000 in tariffs, which could push up oil and gas prices
    .

    Steel, in particular, is an important part of almost all oil and gas projects, used to make rigs, rigs, pipelines, and refineries
    .

    The move could affect new pipeline construction, as U.
    S.
    industry does not produce them, so most of the steel used is part of
    a specialty product that must be imported.

    A few days ago, US President Donald Trump suggested that if Canada, Mexico and the United States sign a new trade agreement, the two countries could exempt the proposed metal import tariffs
    .

    Import duties

    Mexico and Canada may be exempt from U.
    S.
    metal import duties

    Mexico and Canada may be exempt from U.
    S.
    metal import duties

    The U.
    S.
    government recently announced plans to impose a 25 percent import tariff on steel and a 10 percent
    import tariff on aluminum.

    Trump tweeted: "We have a huge trade deficit
    with Mexico and Canada.
    NAFTA is a bad deal
    for the United States.
    The agreement is now being renegotiated
    .
    If the new, fair North American Free Trade Agreement is signed, import tariffs on steel and aluminum will only come down
    .

    Media reports suggest that tax increases could hinder the president's policies to protect jobs in the country's
    energy sector.

    That means if a company is building a pipeline out of $500,000 worth of steel, it will have to pay $125,000 in tariffs, which could push up oil and gas prices
    .

    Steel, in particular, is an important part of almost all oil and gas projects, used to make rigs, rigs, pipelines, and refineries
    .

    The move could affect new pipeline construction, as U.
    S.
    industry does not produce them, so most of the steel used is part of
    a specialty product that must be imported.

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