President Donald Trump on Monday dangled the possibility of lifting the new steel and aluminum tariffs he’s imposed if NAFTA is renegotiated to terms more favorable to the US.
“We have large trade deficits with Mexico and Canada. NAFTA, which is under renegotiation right now, has been a bad deal for U.S.A. Massive relocation of companies & jobs. Tariffs on Steel and Aluminum will only come off if new & fair NAFTA agreement is signed,” Trump tweeted Monday morning.
He added, “Also, Canada must … treat our farmers much better. Highly restrictive. Mexico must do much more on stopping drugs from pouring into the U.S. They have not done what needs to be done. Millions of people addicted and dying.”
Trump has said he is imposing a 25% tariff on steel imports and a 10% tariff on aluminum imports. White House trade adviser Peter Navarro told CNN Sunday that no country will be excluded from the tariffs.
The President didn’t specify Monday whether the potential tariff rollback would be applied only to Mexico and Canada.