Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Canadians question ratification of new North American trade deal: Ottawa

Published 2019-03-25, 03:23 p/m
Updated 2019-03-25, 03:30 p/m
© Reuters.  Canadians question ratification of new North American trade deal -Ottawa

OTTAWA, March 25 (Reuters) - Many Canadians question why Ottawa should ratify a new North American free trade deal given Washington's refusal to lift U.S. tariffs on imports of steel and aluminum from its northern neighbor, a top Canadian official said on Monday.

Foreign Minister Chrystia Freeland made her remarks to reporters in Washington after meeting U.S. Trade Representative Robert Lighthizer to insist on the removal of the sanctions, which the U.S. administration announced last May, citing national security reasons.

Canada is the single largest supplier of both aluminum and steel to the United States. Freeland said it made no sense to retain the tariffs, given that the U.S.-Mexico-Canada free trade agreement had been formally signed last November.

"I have heard from a lot of Canadians that they would be really troubled by Canada moving forward with ratification while the tariffs are still in place," she said in televised remarks.

Freeland did not answer directly when asked whether she had made any progress in trying to persuade Lighthizer to lift the tariffs. Washington worries that countries could try to ship supplies through Canada and pretend the metals had been produced in Canadian facilities.

Prime Minister Justin Trudeau spoke to U.S. President Donald Trump on March 1 about the matter but well-placed sources said there was little sign of progress.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.