MoneyNewsTop NewsWorld

Trump extends a temporary exemption from metal charges to Canada, the EU and Mexico

UNITED STATES (OBSERVATORY) – US President Donald Trump postponed steel and aluminum duties to Canada, the European Union and Mexico until June 1, while reaching permanent exemption agreements with Argentina, Australia and Brazil, the White House said.

The decision came hours before the end of the temporary tariff exemption for those countries at 12:01 am (0401 GMT) on Tuesday.

A statement issued by the White House said on Monday that the details of the agreements with Brazil, Argentina and Australia will be finalized within a short period without giving details.

“The administration is also extending negotiations with Canada, Mexico and the European Union for 30 days for the last time. In all these negotiations, the administration focuses on quotas that will restrict imports, prevent transport through other countries and protect national security. ”

A source familiar with the decision said there would be no further extension after June 1.

Trump on March 23 charged 25 percent for steel imports and 10 percent for aluminum imports but gave Canada, Mexico, Brazil, the European Union, Australia and Argentina temporary exemptions. Trump was granted a permanent exemption to South Korea as part of a review of a free trade agreement he had already strongly criticized.