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🚨 🇺🇸 🇨🇦 US and Canada reportedly work on steel and auto tariff relief, 🇮🇷 Iran open to a shorter US proposal timeline
🚨 🇺🇸 🇨🇦 US and Canada reportedly work on steel and auto tariff relief, 🇮🇷 Iran open to a shorter US proposal timeline
- 🇺🇸 🇨🇦 The US and Canada are reported to be working on a deal to ease US tariffs on Canadian steel and autos, with talks said to cover steel tariffs of up to 50% and auto tariffs of 25%, possibly before the 3 November midterms
- 🇨🇦 The Canadian dollar firmed modestly on the report, while US steel names slipped, per newswires
FO view: A steel and auto deal with Canada would ease sector tariffs on a top trading partner ahead of the midterms, a modest support for US equities and a mild drag on the dollar against the Canadian dollar.
Not investment advice.