15:52 GMT +325 May 2019
Listen Live
    An employee looks on from behind coils of steel as acting Secretary of Labor Seth Harris speaks to workers after a tour of ArcelorMittal Steel's hot dip galvanizing line in Cuyahoga Heights, Ohio (File)

    US Likely to Extend Steel, Aluminum Tariff Exemptions for Allies – Reports

    © AP Photo / Mark Duncan
    Business
    Get short URL
    122

    MOSCOW (Sputnik) - The Trump administration may prolong the exemptions from US steel and aluminum tariffs for Canada, Mexico and other partners beyond the May 1 deadline, depending on the achieved progress in the negotiations, CNBC reported on Saturday.

    According to CNBC, the United States is likely to extend exemptions for Canada and Mexico, as they have made progress in discussions of the tariffs issue during the NAFTA talks. Meanwhile, it is unclear whether the talks with Brazil, Australia and Argentina yielded similar results, the broadcaster reported, citing a source familiar with the matter.

    Seoul was granted permanent exemption from the US tariffs under a new trade deal, the media outlet added.

    READ MORE: Chinese Minister Warns Against Any Forms of Protectionism Amid Trade Row With US

    In March, Washington announced tariffs of 10 percent on aluminum imports and of 25 percent on steel imports. The European Union, Canada, Mexico, Australia, Argentina, Brazil and South Korea were granted exemptions, which are in effect until May 1.

    The move provoked a backlash from China, which has introduced its own tariffs on goods produced in the United States. Both countries have suggested they might implement further mutual restrictions.

    READ MORE: Unintended Consequences: How Trump Brought Russia, China, India Closer Together

    Tags:
    allies, aluminum, steel, European Union, NAFTA, South Korea, Brazil, Argentina, Australia, Mexico, Canada, United States
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik