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