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The U.S. is considering lowering steel and aluminum tariffs from 50% to 25% and auto tariffs from 25% to 15%
The United States is considering reducing tariffs on Canadian steel, aluminum, and automobiles as part of a bilateral trade agreement still under negotiation, according to The Wall Street Journal. Negotiators are examining reductions that would bring steel and aluminum tariffs down from 50% to 25% and trim the headline auto tariff from 25% to 15%, though sources familiar with the talks warned the specifics have not been locked in and the final package may look different by the time anything is made public.
Any such reductions would fall under the broader trade framework Trump unveiled Tuesday evening, an announcement that came with barely two hours to spare before a distinct round of duties on Canadian imports was due to kick in. Trump paused those duties for three days while negotiations continue; they are now scheduled to take effect at 12:01 a.m. ET on Saturday, August 22.
Canada and the United States moved closer Wednesday to finalizing an agreement, with a senior Canadian official describing the emerging terms as "a very good deal for Canada" but noting that talks had not yet concluded, according to ABC News. Trump called the agreement "very fair" to both sides. The official requested anonymity, explaining that they lacked authorization to discuss the talks publicly ahead of any finalized agreement.
