Chairman Rick Scott (R-FL) of the Senate Aging Committee made a prediction during a hearing on domestic generic drug manufacturing on Wednesday, saying that his CLEAR Labels Act will become law this year.
Ambassador Greer and his team at USTR deserve enormous credit. Rather than trading away the Section 232 protections American producers rely on, they strategically raised the tariff on downstream aluminum products, providing a necessary buffer to offset the difference in the cost of aluminum in Canada versus the United States.
Late on Friday, August 21, the tentative U.S.–Canada trade agreement collapsed, shortly before new tariffs took effect. Market reporting centered on cutting the Section 232 tariff on Canadian primary aluminum to 25 percent, and the concession was poised to reach fabricated aluminum products as well.
The collapse of the U.S.-Canada trade deal is providing a rare glimpse into the secret world of international trade negotiations. Beyond just the insider view, we are being given hope that the mirage of “Fortress North America” can be put to rest.
Mexico’s top trade diplomat, Marcelo Ebrard, was in Washington for several days last week [from Aug. 24 to Aug. 26] but quietly left empty handed on Wednesday.
The collapse of the U.S.-Canada trade negotiation on August 21 drew headlines and criticism aimed at Washington. What the criticism misses is that the deal on the table would have undercut a key plank of U.S. reindustrialization policy and a vital supply line for national security.
New data showing a sharp increase in Mexican heavy-duty truck production and exports to the United States underscores the importance of maintaining strong tariff protections that encourage commercial vehicle production and investment in the United States.
President Trump was right to strengthen the Section 232 tariffs on steel and aluminum, and the breakdown of these negotiations should put an end to proposals to weaken them.
If Canada wants a deal, there is no shortage of things Ottawa can put on the table — America’s national security tariffs on aluminum and steel are not among them