The Office of the U.S. Trade Representative announced this week that it is ending the 10% tariffs on Canadian aluminum after imposing them in August. The office noted that shipments of Canadian aluminum are returning to normal levels and that it could re-impose the tariffs if imports spike again. Canada was also preparing to impose tariffs on U.S. products before this update was announced.
As an advocate for the state’s automotive industry, MICHauto supports the elimination of this tax. By not imposing these tariffs, the U.S. remains committed to faithfully enacting the terms of the United States-Mexico-Canada Agreement, avoids retaliatory tariffs, and preserves the positive relationship with our largest trading partner. Further, this action maintains affordable materials prices for our state’s automotive companies at a time when they are already battling other challenges posed by the COVID-19 pandemic.
Last month, MICHauto spoke out in opposition of these taxes stating, “At a time when business of all sizes depends on trade for economic growth and job creation – amid an ongoing economic downturn due to COVID-19 – decreasing the value of our cross-border partnership that has shown resiliency the past few months, is harmful to manufacturing and the economy.”