Canada and the U.S. are close to reaching a deal to remove steel and aluminum tariffs, CBC News has learned.

High-level discussions to hammer out any final details are happening now, and the deal could be announced as early as Friday, according to a source with knowledge of the negotiations. 

While nothing is finalized, the source said momentum is heading in the right direction and called today a moment to mark.

However, they cautioned that the devil will be in the details.

Almost a year ago, the U.S. Department of Commerce slapped tariffs of 25 per cent on imports of steel and 10 per cent on aluminum, citing national security interests.

Canada retaliated with its own tariffs of 25 per cent on steel and 10 per cent on aluminum, but also imposed a 10 per cent tariff on multiple consumer items, targeting products such as Kentucky bourbon from states represented by U.S. politicians who might push back against the tariffs.

The tariffs have disrupted supply chains and added extra costs for consumers and businesses across a wide range of industries on both sides of the border.

Foreign Affairs Minister Chrystia Freeland was in Washington, D.C., earlier this week to sit down with her American counterpart and held a series of  meetings with members of Congress.

Her trip followed on the heels of two phone conversations Prime Minister Justin Trudeau had with U.S. President Donald Trump within the past week, where he asked for an end to U.S. steel tariffs and additional diplomatic assistance in Canada’s ongoing dispute with China.

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