Canada set to impose new tariff rate quotas on steel
(CNN)– Canada is retaliating against some U.S. trade policies.
On July 21, the country is set to impose new tariff rate quotas on steel.
The tariff rate quotas are for countries that don’t have related free-trade agreements with Canada.
That could make American-made steel less appealing to Canadian buyers.
U.S. duties on Canadian steel and aluminum are 50% right now.
Two officials say Canada has proposed swapping defense spending for relief from those measures to no avail.
The U.S. and Canada are committed to reaching some kind of trade agreement in 30 days after talks during this week’s G-seven summit.
