Canada to drop many of its retaliatory tariffs on the US

Canada to lift retaliatory tariffs on US goods

The Canadian government has announced that it will drop many of its retaliatory tariffs on US goods, a move that is seen as a positive step in easing tensions between the two countries. The decision comes after the US removed tariffs on Canadian steel and aluminum in November 2022. According to a statement released by the office of the Prime Minister, Canada will lift tariffs on approximately $1.2 billion worth of US goods, including pork, beef, whiskey, and soybeans, among others. The move is expected to help Canadian consumers and businesses, as it will reduce the cost of these products and increase availability. The decision was also praised by the US administration, with a spokesman for the US Treasury Department stating that it demonstrates Canada's commitment to fostering a positive and constructive relationship with the US. This move follows a series of initiatives aimed at improving relations between the two countries, and comes as a welcome development in the ongoing trade dispute. More details are expected to be announced in the coming days.