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US cancels 232 tariffs on aluminum products from Canada once again

16 Sep 2020 16:05 reported by Markus Chen

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The Office of the US Trade Representative (USTR) announced on September 15 that they will cancel the 232 tariffs on aluminum products imported from Canada again after 40 days of tariffs re-collection.

The office stated that the decision was based on the forecast that Canadian aluminum shipments to the US will decline month by month and the US will review whether the shipment volume exceeds the forecast six weeks after the end of each month.

Market participants had different views on this measure, and it continued to be observed that the aluminum price will drop sharply or rise further.

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