NAFTA Renegotiated but Steel and Aluminum Tariffs Remain

The U.S., Canada and Mexico have come to an agreement on trade after months of renegotiating the 24-year-old North American Free Trade Agreement (NAFTA). Tariffs on Canadian steel and aluminum, however, were not resolved.

The updated trade deal, now called the United States-Mexico-Canada Agreement (USMCA), must undergo a 60-day review period in Congress before the President can sign it. Mexican President Enrique Peña Nieto leaves office December 1, which made yesterday the deadline to begin the 60-day period without having to restart negotiations with a new Mexican administration.

In a news conference earlier today, the President said the 34-chapter deal governs $1.2 trillion in trade. While the USMCA deal did not lift tariffs on Canadian aluminum and steel, those discussions will happen separately.

The Window and Door Manufacturers Association (WDMA) released a statement regarding the revised NAFTA agreement.

“WDMA is encouraged that the United States, Canada and Mexico were able to agree on a trilateral agreement to replace NAFTA,” says WDMA president and CEO Michael O’Brien. “WDMA is reviewing the details of the draft released over the weekend and are hopeful that the agreement’s terms promote open markets for the window, door and skylight industry, and contribute to a robust economy.”

This article is from USGNN™, the daily e-newsletter that covers the latest glass industry news. Click HERE to sign up—there is no charge. Interested in a deeper dive? Free subscriptions to USGlass magazine in print or digital format are available. Subscribe at no charge Sign up today.

This entry was posted in Featured News, News, Today's News and tagged , , , , , , . Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.