On May 17, the United States, Canada and Mexico announced an agreement to remove tariffs on steel and aluminum imported from each of the countries. The move will lift the 25 percent steel and 10 percent aluminum tariffs the United States imposed nearly a year ago, which resulted in retaliatory measures from Canada and Mexico. AED opposed the tariffs and frequently warned the Trump administration about its impact on the construction equipment industry and broader sector.
In response to the agreement, AED’s President & CEO Brian P. McGuire issued the following statement:
“AED commends the United States, Canadian and Mexican governments for reaching an accord to remove the steel and aluminum tariffs. The tariffs were disrupting the supply chain and increasing costs for equipment distributors, manufacturers and customers. Congress must now approve the United States-Mexico-Canadian Agreement.
“The USMCA modernizes and strengthens the trade ties between the three countries, which will boost economic growth and job creation in North America while providing trade certainty for the construction equipment industry.”