Trump Today: Trump Today: President announces deal with Canada, Mexico to end steel and aluminum tariffs

President Donald Trump addresses the National Association of Realtors Legislative Meetings & Trade Expo May 17, 2019, in Washington.

President Donald Trump announced an agreement with Canada and Mexico to remove U.S. tariffs on steel and aluminum imports, as he again blasted reporting on his administration’s Iran policy.

TARIFFS COMING OFF

Speaking in Washington at a National Association of Realtors conference, Trump said the U.S. had “just reached an agreement with Canada and Mexico.”

The agreement to lift the 25% tariffs on steel and 10% tariffs on aluminum should help smooth the way forward for the new U.S.-Mexico-Canada Agreement, or USMCA. Canada will remove tariffs imposed in retaliation, according to a statement. A Mexican statement was expected later.

“That deal is going to be a fantastic deal for our country, and hopefully Congress will approve the USMCA quickly,” the president said. The USMCA is meant to replace the North American Free Trade Agreement. Sen. Chuck Grassley, the Iowa Republican who heads the Senate Finance Committee, warned last month that the USMCA was “dead” in Congress without a resolution of the tariff issue.

IRAN

A day after saying he hoped the U.S. wasn’t heading toward a war with Iran, Trump said the Iranians may be confused about what’s coming next.

In the wake of reports of infighting in his administration over confronting Tehran, Trump said on Twitter, “With all of the Fake and Made Up News out there, Iran can have no idea what is actually going on!”

Secretary of State Mike Pompeo will reportedly brief members of Congress on escalating tensions with Iran on Tuesday. Oil prices CLM9, -0.27%   settled lower Friday but gained for the week.

Sign up for Trump Today and other MarketWatch newsletters.

Want news about Asia delivered to your inbox? Subscribe to MarketWatch’s free Asia Daily newsletter. Sign up here.

Filed in: Top News Tags: 

You might like:

An estimated 10.7 million Americans could miss work the Monday after the ‘Game of Thrones’ finale An estimated 10.7 million Americans could miss work the Monday after the ‘Game of Thrones’ finale
The Moneyist: My mom gave my sister $20,000 for her stem-cell treatment, I want her to deduct it from her inheritance The Moneyist: My mom gave my sister $20,000 for her stem-cell treatment, I want her to deduct it from her inheritance
The Wall Street Journal: OPEC considers two scenarios to adjust oil production The Wall Street Journal: OPEC considers two scenarios to adjust oil production
Biden pitches himself as a uniter even as he tears into Trump Biden pitches himself as a uniter even as he tears into Trump
A new theory on why sleeping less than 7 hours per night can lead to heart disease and Type 2 diabetes A new theory on why sleeping less than 7 hours per night can lead to heart disease and Type 2 diabetes
Economic Preview: There’s no recession in sight, but the U.S. economy appears stuck in second gear Economic Preview: There’s no recession in sight, but the U.S. economy appears stuck in second gear
NewsWatch: Crowd psychology says this ‘fool’s rally’ in stocks could fool bears NewsWatch: Crowd psychology says this ‘fool’s rally’ in stocks could fool bears
The Wall Street Journal: Students were advised to falsely claim to be racial minorities in college-admissions scandal The Wall Street Journal: Students were advised to falsely claim to be racial minorities in college-admissions scandal

Leave a Reply

Submit Comment
© 2019 Stock Investors News. All rights reserved. XHTML / CSS Valid.