The Trump administration has reached a deal to lift tariffs on steel and aluminum imports from Canada and Mexico, in a move that could put the three nations a step closer to ratifying the USMCA trade deal that would replace NAFTA.

The tariffs will be lifted within two days, according to a joint U.S.-Canada statement posted by Canada's foreign ministry.

The U.S. tariffs on metals from Canada and Mexico have been in effect for nearly a year, with steel imports subject to a 25% tariff and aluminum to a 10% hike. Retaliatory tariffs from Canada and Mexico have been in place for nearly as long.

MPR