08:48 GMT30 November 2020
Listen Live
    World
    Get short URL
    0 07
    Subscribe

    On Monday, The Wall Street Journal newspaper reported, citing a high-ranking official at the US State Department, that Trump had decided to postpone for another month the steel and aluminum tariffs' entry into force for the European Union and some other US allies.

    US Commerce Secretary Wilbur Ross told the CNBC broadcaster that Washington has no intention to extend protracted tariff exemption. He added that tariff exemptions to the European Union were extended because of fruitful discussions to reduce trade tensions between Europe and the US.

    "I don't think we have any intention to grant protracted extensions, that defeats the whole purpose," the secretary pointed out.

    READ MORE: Austrian Chancellor: 'Long-Term Decision' Required to Settle US Tariffs Issue

    Earlier in the day, the EU stated that the bloc should be permanently exempted from the new US tariffs. The European Commission also warned that Washington's decision prolongs market uncertainty, "which is already affecting business decisions." Germany echoed the EU stance, expressing hope that the EU would provide a long-term exemption for the bloc.

    In late March, the United States imposed 25-percent and 10-percent tariffs on imported steel and aluminum, respectively. According to Trump, the tariffs will be in place for a long time. The European Union and six other US allies — Argentina, Australia, Brazil, Canada, Mexico and South Korea — have been granted temporary exemptions from tariffs, which are now set to expire on June 1.

    Related:

    EU Demands More as US Extends Temporary Tariff Exemptions, Trade War Put on Hold
    Austrian Chancellor: 'Long-Term Decision' Required to Settle US Tariffs Issue
    Trump Extends Metal Tariff Talks With EU, Canada, Mexico for 30 Days
    Russia Demands Compensation From US For Imposing Steel Tariffs - Reports
    EU Mulls Joining US in Trade War With China in Bid to Ease Tariffs - Reports
    IMF Chief Warns World Trade in Danger of Being 'Torn Apart' Amid Tariff War
    Tags:
    extension, tariffs, EU, Wilbur Ross, US
    Community standardsDiscussion