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Monday, November 12, 2018
Talks Focus on US Metal Tariffs
Mexico and Canada both say that want to resolve issues around U.S. tariffs on steel and other metals and on lifting their countermeasures on U.S. products, including several farm goods (pork, dairy, etc.).Canada responded to the U.S. steel tariffs with retaliatory duties on about $12.6 billion worth of American imports, including food and beverage items.Canada does not like quotas, as talks continue, with Canada stressing they have taken measures to control the flow of international steel via Canada into North America.Meanwhile, Mexico's economy minister Ildefonso Guajardo noted that U.S.-Mexico trade adds up to more than $500 billion, while the tariffs between the countries only hit about $3 billion in goods in each country. "Yes, it is not desirable to sign an agreement without considering the tariffs," he observed, but said they would go ahead with signing the deal given the importance of the trading relationship.