Retail

Canada's U.S. envoy says tariffs dispute will be settled soon


© Reuters. Canada’s U.S. envoy says tariffs dispute will be settled soon

OTTAWA (Reuters) – Canada’s ambassador to Washington on Friday struck an optimistic tone over a dispute with the United States over steel and aluminium tariffs, saying he thought both sides would resolve their differences “sooner rather than later.”

David MacNaughton made his remarks to a business audience in the Ontario town of Niagara-on-the-Lake. Canadian officials said earlier in the month they were downbeat about the chances of a quick solution.

The Trump administration imposed the tariffs on imports of the metals from Canada and Mexico in June, citing national security reasons. MacNaughton said it was clear the tariffs had been a tool to exert pressure during talks to update a continental trade deal, which concluded last month.

“Now that we’ve come to an agreement, there is no need for those tariffs to be in place … I think that we will resolve this sooner rather than later,” MacNaughton said.

Canada and Mexico retaliated with their own tariffs on a wide range of U.S. goods.

The leaders of the three nations are due to sign the new United States-Mexico-Canada trade agreement at a Group of 20 summit in Argentina that starts at the end of November.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





READ SOURCE

Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.