U.S.-Canada Trade Talks Dealing With Aluminum-Tariff Levels, Bessent Says
The Treasury secretary's remarks Thursday signal possible relief for Canada's aluminum sector, which—along with steel makers—faces a 50% tariff on products entering the U.S. Canada is the U.S.'s biggest foreign supplier of both metals, and the deals President Trump has made to date have maintained the 50% duty of steel and aluminum.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
8 minutes ago
- Yahoo
German finance minister to push for steel quotas on Washington trip
BERLIN (Reuters) -German Finance Minister Lars Klingbeil will advocate for a quota system on steel exports to be included in the EU's trade deal with the United States at a meeting with his U.S. counterpart, Scott Bessent, later on Monday, he told a radio broadcaster. "There is talk of a quota system for steel, and it would be good if there were one," Klingbeil told Deutschlandfunk radio on Monday before his planned meeting in Washington. There are a number of chapters that have not yet been finalised in the trade deal struck, said Klingbeil, and steel is a particularly important issue for the German economy and jobs. "I will test out what steps the American government is prepared to take and what the solution might look like," said Klingbeil, even though the EU is responsible for negotiations. The EU's trade deal with Trump in July was greeted with a mix of relief and anger, with tariffs set at 15% for most products but negotiations continuing for certain sectors, including steel and aluminium, which carry tariffs of 50%. German Chancellor Friedrich Merz had said on Friday the EU will negotiate with the United States on steel, with a focus on quotas that can be exported without too high tariffs. Klingbeil also urged quick clarification of other outstanding details in the trade dispute, including the investments promised by the EU and in the energy sector. "It should happen in the next few days," he said. Sign in to access your portfolio
Bloomberg
10 minutes ago
- Bloomberg
Swiss Equity Futures Drop as Traders Brace for US Tariffs Impact
Swiss stock-index futures dropped Monday as the stock exchange prepared to reopen after a holiday, pricing in the impact of US President Donald Trump's punitive 39% export tariff on the country. Futures on the Swiss Market Index sank 2.5% at 8:39 a.m. in Zurich. The market was closed Friday, when Trump announced the tariffs.
Yahoo
37 minutes ago
- Yahoo
Japan's Ishiba signals talks with Trump for early cut to US auto tariff
TOKYO (Reuters) -Japanese Prime Minister Shigeru Ishiba said on Monday he will not hesitate to hold talks with President Donald Trump to ensure an agreed cut to U.S. automobile tariffs is implemented soon. In a parliament session on Monday, Ishiba drew criticism from some opposition lawmakers for not having signed an official document with the U.S. in clinching a trade deal last month. "Creating a document could have delayed the timing of tariff cuts. That was our biggest fear," Ishiba said, defending Japan's decision to agree on a deal without creating an official document with the U.S. "He is not a typical counterpart and could overturn rules," Ishiba said on Trump's negotiating style. Ishiba said he had "absolutely no hesitation" to hold talks with Trump to have Washington execute the tariff cut soon, though he declined to comment on when such talks could take place. "Both countries will begin executing what was agreed upon, which is harder than agreeing on a deal," Ishiba said, signaling his intention to stay on as premier to see through the process. Ishiba is under pressure from within his ruling Liberal Democratic Party to step down as prime minister to take responsibility for the party's huge defeat in last month's upper-house election. Japan's trade deal struck with Trump last month lowers U.S. tariffs on imports of goods including automobiles, easing the pain for the export-reliant economy. But there is no clarity on when U.S. tariffs for automobiles and auto parts will be cut to 15% from the current 25%, clouding the outlook for Japan's fragile recovery. In the same parliament session, Japan's top trade negotiator, Ryosei Akazawa, said it was hard to say how soon the U.S. could actually implement automobile tariffs, though he added it took "more than a month" in the case of Britain. Sign in to access your portfolio
