A tentative trade agreement would reduce U.S. tariffs on Canadian steel and aluminum to 25% from 50%.
The U.S. plans to cut tariffs on Canadian steel and aluminum imports from 50% to 25% under a proposed trade framework. The agreement, still subject to change, aims to ease trade tensions between the two countries.
Current tariffs have been in place since 2018, with prior negotiations failing to reach a resolution. Analysts note the reduction could lower costs for U.S. manufacturers reliant on Canadian metals.
No immediate market reaction was reported, but the move may signal improved bilateral trade relations ahead of further discussions.