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Canadian retaliatory tariffs lifted as U.S. kills steel aluminum penalties

Rolls of coiled coated steel are shown at Stelco before a visit by the Chrystia Freeland, Minister of Foreign Affairs, in Hamilton on June 29, 2018. The lifting of American tariffs on imported steel and aluminum from Canada is receiving a guarded welcome. Economists say there will be only a minimal impact on the overall Canadian economy but will have a sizable impact on a few industries, such as the automotive sector. THE CANADIAN PRESS/Peter Power

OTTAWA — Finance Minister Bill Morneau says Canadian tariffs on U.S. bourbon, playing cards and licorice have officially been lifted.

The tariffs targeting products to have political impact in the states of prominent Republican lawmakers were retaliation for the steel and aluminum tariffs President Donald Trump imposed on Canada almost a year ago.

Canada and the U.S. reached a deal Friday to lift those tariffs and they were physically removed today.

This morning Morneau issued a statement saying lifting the tariffs on both sides was a “true win-win” for everyone affected.

Trump tweeted early this morning that U.S. farmers can now begin doing business again with both Canada and Mexico.

Canada’s retaliatory tariffs slapped extra import duties on aluminum and steel coming from the United States but also 75 other products including sleeping bags, toilet paper, soy sauce and ketchup.

The Canadian Press