The 2nd quarter tariffs of 2020 affected imports, including aluminum and steel, as well as whiskey, on U.S. manufacturers. There were also on-going negotiations on key international deals and the preparations for the start of a new trade deal between the United States, Mexico and Canada.
U.S. businesses reported losses due to the tariffs. Plus, political leaders opposed many of the tariffs and deals in the second quarter. Meanwhile, the Trump administration postulates that the trade deals favor U.S financial interests.
Here is a breakdown of top trade deals that were negotiated and the tariffs implemented over the last three months.
NAFTA Transforms: USMCA Trade Deal
The North American Free Trade Agreement (NAFTA) will transform into the United States-Mexico-Canada Agreem…