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Mnuchin: Deal close to scrap Mexico, Canada steel tariffs

Mnuchin: Deal close to scrap Mexico, Canada steel tariffs
© Greg Nash
The Trump administration is nearing a deal that would lift steel and aluminum tariffs on Mexico and Canada, Treasury Secretary Steven MnuchinSteven MnuchinDemocrats justified in filibustering GOP, says Schumer Yellen provides signature for paper currency Biden's name will not appear on stimulus checks, White House says MORE told a congressional panel at a hearing on Wednesday.
 
“I think we are close to an understanding with Mexico and Canada,” Mnuchin said in testimony to the Senate Appropriations subcommittee on financial services. 
 
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The administration is facing pressure to lift tariffs on the two countries from Republicans in Congress. 
 
Senate Finance Committee Chairman Chuck GrassleyChuck GrassleySenate confirms SEC chief Gensler to full five-year term Senate aims to pass anti-Asian hate crimes bill this week 'Real Housewives of the GOP' — Wannabe reality show narcissists commandeer the party MORE (R-Iowa) threatened last month to block passage of the United States-Mexico-Canada Agreement, a trade pact intended to replace the North American Free Trade Agreement (NAFTA) with Mexico and Canada, unless the administration lifts the steel and aluminum tariffs.
 
Grassley's panel has jurisdiction on trade issues. 
 
Trump imposed the steel and aluminum tariffs against a slew of trading partners last year, including Canada, Mexico and the European Union. Those countries have hit the U.S. with retaliatory tariffs.
 
Even after Trump struck a deal with Canada and Mexico to update NAFTA, the tariffs on steel and aluminum from those countries were kept in place.
 
Mnuchin said that lifting the tariffs with Canada and Mexico was a “priority” and that he and U.S. Trade Representative Robert LighthizerBob LighthizerWhiskey, workers and friends caught in the trade dispute crossfire GOP senator warns quick vote on new NAFTA would be 'huge mistake' Pelosi casts doubt on USMCA deal in 2019 MORE had been in talks with those countries’ finance ministers. 
 
Lifting tariffs on South Korea, however, had not been a central topic of discussion, he said.