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US and European steel and aluminum tariff exemption crisis suspended

US and European steel and aluminum tariff exemption crisis suspended

The US White House issued a statement on April 30 local time, saying that the Trump administration has agreed in principle with Argentina, Australia, and Brazil on steel and aluminum tariffs, and will extend negotiations on tariffs on steel and aluminum with Canada, Mexico, and the European Union for another 30 days.

President Trump’s decision to postpone tariffs has suspended the steel and aluminum tariff exemption crisis between the United States and Europe. However, the EU side issued a statement on May 1 stating that the US decision to extend the EU steel and aluminum tariff exemption deadline in the short term has extended market uncertainty and has affected business decisions. Both sides will continue negotiations, but the EU will not threaten. Negotiate.

U.S. Extend Tariff Exemption

At 12:01 a.m. EST on May 1, the United States decided to temporarily waive the tariff on imports of steel and aluminum products to the European Union and other economies. Before the deadline, Trump decided to postpone the collection of steel and aluminum tariffs to the EU and five other ally countries, delaying the exemption period until June 1.

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