Trump delays steel tariff decision on EU
President Donald Trump has pushed back a deadline to decide whether the U.S. will exempt the European Union and other allies from steel and aluminum tariffs, an administration official told FOX Business on Monday.
The U.S. imposed in March a 25% tariff on imported steel and a 10% tariff on aluminum, but the White House said some nations would not be subject to the new levies. Trump had faced a self-imposed midnight deadline to approve permanent exemptions.
The Trump administration was expected to exempt Canada and Mexico from the tariffs, which were scheduled to begin May 1. The U.S. is in separate talks with those neighbors to rework the North American Free Trade Agreement.
The fate of steel and aluminum tariffs on the EU is less certain. The EU has threatened to retaliate by taxing goods shipped from the U.S. if Trump opts to impose steel and aluminum tariffs on member nations.
Negotiations with Canada, Mexico and the EU face a new 30-day deadline, while Australia, Argentina and Brazil have reached preliminary agreements on tariff exemptions. Those agreements will be completed over the next 30 days.
Also on Monday, the White House is reportedly expected to come to terms on a previously announced deal that would exempt South Korea from the tariffs.