Tuesday 1 May 2018

Trump extends steel tariffs relief for EU and other allies

Trump extends steel tariffs relief for EU and other allies

US President Donald Trump has extended an exemption on steel and aluminium tariffs for the EU, Canada and Mexico for 30 days for further talks.

His administration has also reached agreements-in-principle with Argentina, Australia and Brazil, with details expected to be “finalised shortly”.

The news follows Mr Trump’s announcement to impose tariffs of 25% on US imports of steel and 10% on aluminium.

The White House said: “In all of these negotiations, the administration is focused on quotas that will restrain imports, prevent transhipment and protect national security.”

The UK Department for International Trade said it is “positive” news, however it will work closely with the EU and the US Government to achieve a permanent exemption.

The European Commission believes delaying the decision “prolongs market uncertainty, which is already affecting business decisions”, adding: “The EU should be fully and permanently exempted from these measures as they cannot be justified on the grounds of national security.

“Overcapacity in the steel and aluminium sectors does not originate in the EU. On the contrary, the EU has over the past months engaged at all possible levels with the US and other partners to find a solution to this issue.”

Written by

Bruna Pinhoni

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