Trump Links Planned Steel Tariffs to Nafta Renegotiation Effort
President says steel tariffs will remain until new Nafta signed
President Donald Trump on Monday increased pressure on two top U.S. trading partners, saying he would lift planned tariffs on steel imports only if Mexico and Canada sign a new version of the North American Free Trade Agreement, or Nafta.
“Tariffs on Steel and Aluminum will only come off if new & fair NAFTA agreement is signed,” Mr. Trump said in a morning tweet.
.. The Trump administration is seeking to update the original labor provisions with stronger rules aimed at lifting the salaries of Mexican manufacturing workers, whom many U.S. officials blame for taking American factory jobs... Prime Minister Justin Trudeau said tariffs would be “absolutely unacceptable,” given the integrated nature of the continental steel and aluminum sectors. Half of U.S. steel exports head to Canada, while 39% are shipped to Mexico.“Disruptions to this integrated market would be significant and serious,” Mr. Trudeau said. “That’s why we are pressing upon the American administration the unacceptable nature of these proposals that will hurt them every bit as much as they would hurt us.”