US close to resolving tariff dispute with Canada, Mexico, says Mnuchin

Remigio Civitarese
Mag 18, 2019

Mnuchin was testifying at the U.S. Senate appropriations subcommittee as Canadian Foreign Affairs Minister Chrystia Freeland heads to Washington to meet Trump trade czar Robert Lighthizer in a renewed push to get the punitive tariffs lifted.

Following her meeting with Mr Lighthizer, she repeated the demand that the tariffs - 25 per cent on steel and 10 per cent on aluminum - be withdrawn before the implementing the revised deal known as the US-Mexico-Canada Agreement.

U.S. President Donald Trump has denied that trade talks with China had broken down even as he imposed more tariffs on Chinese imports and both sides prepared for another round of further tariffs, roiling global markets in recent days.

While Mr. Mnuchin's comments are positive for thousands of Canadians in those sectors suffering through reduced economic activity, they are by no means precise, and no clear breakdown has been given as of yet on what a compromise between the three nations would look like. "I can assure you it is a priority for us". Join the conversation by commenting below!

Mr Mnuchin said Wednesday this was likely to be worked out soon.

Morneau said he brings up the tariffs with Mnuchin every time they talk, including in a telephone call last week and face-to-face meetings last month in Washington at World Bank and G20 finance ministers' meetings.

Senate Finance Committee Chairman Chuck Grassley, an Iowa Republican, has said he would block ratification of Trump's revision of the North American Free Trade Agreement, called the U.S. -Mexico-Canada Agreement, until the metals tariffs are lifted on the U.S. neighbors.

Mexican Economy Minister Graciela Marquez on Tuesday said Mexico was "close to negotiating the lifting of tariffs". "I wouldn't say I'm confident", Mnuchin added.

With US Trade Representative Robert Lighthizer, Mnuchin has led the US delegation in 11 rounds of shuttle diplomacy aimed at resolving the US-China trade war.

Both Canada and Mexico are expected in the coming weeks to top up their respective retaliatory tariffs.

But US officials have reportedly sought to persuade Mexico City and Ottawa to accept export quotas in return for lifting the metal tariffs for their countries.

"We discussed ways Canada can support Mexico in this important effort, which is good for workers in Mexico, good for workers across North America", she said. "Canada is a real supporter of union rights and we're happy to be discussing that important issue with our Mexican colleagues".

Altre relazioniGrafFiotech

Discuti questo articolo

Segui i nostri GIORNALE