US, Canada Near Trade Deal to Lower Tariffs on Steel and Aluminum, Introduce Export Quota

Published: Aug 20, 2026 09:21

Save

[SMM Aluminum Express News] The U.S. and Canada are moving closer to a trade agreement that could provide tariff relief for Canadian exports, with negotiations reportedly covering automobiles, steel and aluminium. President Donald Trump postponed the planned 50% tariff on a range of additional Canadian goods for three days, saying the two countries were close to a deal, while Canadian Prime Minister Mark Carney said substantial progress had been made but negotiations were not yet complete.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

46 mins ago

Overnight futures narrow recovery, spot cargo off-season lacks upward momentum [SMM Cast Aluminum Alloy Morning Comment]

[SMM Cast Aluminum Alloy Morning Comment: Overnight Futures Narrowly Recover, Spot Cargo Lacks Uward Momentum in Off-Season] Overnight, the aluminum alloy 2610 contract opened at 22,905 yuan/mt. After a quick dip at the night session's open, buying gradually stepped in, driving prices to consolidate and rebound, hitting an intraday high of 23,055 yuan/mt before closing at 23,035 yuan/mt, up 0.41%.

46 mins ago

57 mins ago

Inventory destocking continues to support the futures, making it difficult for aluminum prices to break the consolidation range in the short term [SMM Aluminum Morning Briefing]

[Aluminum Social Inventory Destocking Underpins Futures, Short-Term Prices to Consolidate Within Range] Overall, domestic aluminum prices are expected to mainly consolidate in the short term, with upside room likely to be suppressed by production resumption expectations.

57 mins ago

15 hours ago

SHFE Aluminum Futures Warrants Down 2,393 mt, Decline by 22.33% Over a Month

[SMM Aluminum Flash] On August 19, SHFE aluminum futures warrants stood at 290,536 mt, down 2,393 mt from the previous trading day; over the past week, SHFE aluminum futures warrants decreased by 12,632 mt, a decline of 4.17%; over the past month, SHFE aluminum futures warrants decreased by 83,513 mt, a decline of 22.33%.

15 hours ago