President Donald Trump signaled on Monday that his hastily announced tariffs on steel and aluminum may not be implemented, at least for Canada and Mexico, if a “fair” NAFTA agreement is negotiated.
“Tariffs on steel and aluminum will only come off if new & fair NAFTA agreement is signed,” the President tweeted Monday.
U.S., Canada and Mexico meet Monday for the final round of NAFTA talks, which have been further complicated by Trump’s tariff announcement last week. The president announced a 25 percent tariff on steel and 10 percent tariff on aluminum on Thursday, roiling financial markets and causing sharp rebukes from Canada, the European Union and others, including many U.S. companies.
Despite this blowback, Trump in the subsequent days maintained his tough stance, even going so far as to say that “trade wars are good and easy to win.”
The Dow Jones industrial average dropped 420 points on Thursday following the announcement, led lower by manufacturers like Boeing and General Motors. But steel stocks soared.
Thursday morning, the White House first delayed a tariff announcement as
