Canada will lift part of the retaliatory tariffs imposed against the US to reconcile with Trump

MADRID, 22 (EUROPA PRESS)

Canada will lift retaliatory tariffs imposed on a long list of imports from the United States as a gesture of goodwill towards the Trump Administration, as reported by 'Bloomberg'.

The sources consulted by the media have indicated that Mark Carney's Government will make the announcement this Friday and will eliminate the 25% taxes on American goods that meet the standards of the USMCA tripartite free trade agreement, signed by the US, Mexico and Canada.

However, Ottawa will likely maintain 25% tariffs on its southern neighbor's steel and aluminum, as well as its cars. The president of the United States, Donald Trump, also punishes foreign purchases of these products.

The move is also intended to set the stage for the review of the USMCA, which is expected to begin in the coming months. People familiar with the matter have explained that these tariff cuts are intended to emphasize the importance of said treaty for Canada.

"He is eliminating his retaliatory tariffs, which I thought was very good. And soon we will have another call. Yes, we had a very positive call," Trump explained today from the Oval Office in reference to the one already held between the two leaders.

On the other hand, the Republican has defended the convenience of his tariff program because it makes “everyone respect” the United States and because it will allow it to raise 4 trillion dollars (3.41 trillion euros) in revenue to reduce the deficit.