Trump announces end to steel, aluminum tariffs

(NBC News) The president announced new moves Friday to ease trade tensions with some allies, as Americans feel the pain of the trade war with China.

The U.S. will lift tariffs on steel and aluminum imported from Canada and Mexico.

The agreement could help pave the way for a replacement for the North American Free Trade Agreement between the United States, Canada and Mexico.

In exchange, Canada and Mexico agree to halt retaliatory tariffs – some of which hurt American farmers – and agree to limit Chinese steel entering the U.S. through their borders.

Also on Friday, the White House said it will delay slapping tariffs on auto imports from Japan and Europe, giving them six months to negotiate trade deals.

The Trump Administration is hoping Congress will vote on the new trade deal with Canada and Mexico before lawmakers leave for August recess.

Read more: https://cnb.cx/2WRnvgX