Canada to remove retaliatory tariffs on many U.S. goods

Canada’s U.S. trade minister on Trump tariffs

Canada’s U.S. trade minister says country is “obviously disappointed” by Trump tariffs

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Canada will remove retaliatory tariffs on many U.S. products that are covered under the U.S.-Mexico-Canada Agreement, or USMCA, Prime Minister Mark Carney said at a press conference on Friday.

The move by the Canadian prime minister is expected to reduce tensions with the U.S., as the two nations work to hash out a trade agreement. 

Reached for comment before the press conference, the White House said, “We welcome this move by Canada, which is long overdue,” in a statement to CBS News.

“We look forward to continuing our discussions with Canada on the Administration’s trade and national security concerns,” the White House said. 

Canada imposed 25% tariffs on an extensive list of American-made goods in March. Without the duties in place, American products including alcohol, clothing, and shoes will not face levies when imported into Canada.

Megan Cerullo is a New York-based reporter for CBS MoneyWatch covering small business, workplace, health care, consumer spending and personal finance topics. She regularly appears on CBS News 24/7 to discuss her reporting.

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