Expert insights into important topics in the field
Tips for improving key aspects of your business
U.S. Drops Tariffs on Canadian Aluminum
WASHINGTON—After consultations with the Canadian government, the United States has determined that trade in non-alloyed, unwrought aluminum is likely to normalize in the last 4 months of 2020, with imports declining sharply from the surges experienced earlier in the year.
Average monthly imports are expected to decline 50% from the monthly average in the period of January through July. Accordingly, the U.S. will modify the terms of the 10% tariff imposed in August on imports of Canadian non-alloyed unwrought aluminum.
The U.S. expects that shipments of non-alloyed, unwrought aluminum from Canada for the remainder of 2020 will be no greater than the following monthly volumes:
Based on these expectations, the U.S. will resume duty-free treatment of non-alloyed, unwrought aluminum retroactive to September 1. Six weeks after the end of any month during this period, the United States will determine whether actual shipments met expectations.
If actual shipments exceeded 105% of the expected volume for any month during the 4-month period, then the United States will impose the 10% tariff retroactively on all shipments made in that month.
If shipments in any month exceed the expected volume, the U.S. expects that shipments in the next month will decline by a corresponding amount.
In addition to the forgoing, if imports exceed 105% of the expected volume in any month the U.S. may reimpose the 10% tariff going forward.
The U.S. will consult with the Canadian government at the end of the year to review the state of the aluminum trade in light of trade patterns during the 4-month period and expected market conditions in 2021.
Missed your print issue of Construction Business Owner because you're not at work?