The Latest: White House delays decision on tariffs
WASHINGTON (AP) — The Latest on President Donald Trump and steel tariffs (all times local):
The White House is postponing a decision on imposing tariffs on U.S. imports of steel and aluminum from the European Union, Canada and Mexico for 30 days.
The Trump administration says it has reached an agreement with South Korea on steel imports following discussions on a revised trade agreement. It says it has also reached agreements in principle with Argentina, Australia and Brazil on steel and aluminum that will be finalized shortly.
President Donald Trump slapped tariffs of 25 percent on steel imports and 10 percent on aluminum imports in March but excluded the European Union and five other countries.
The White House had until the end of Monday to decide whether to extend the exemptions or impose the penalties.
The EU has said it will retaliate with tariffs.
President Donald Trump is facing a self-imposed midnight deadline to decide whether to permanently exempt the European Union and five separate countries from tariffs that his administration has imposed on imported steel and aluminum.
If the EU loses its exemption, it’s threatened to retaliate with its own tariffs on U.S. goods imported to Europe. A possible trade war with Europe could come just as the Trump administration prepares for trade talks with China.
Trump decided in March to slap tariffs of 25 percent on imported steel and 10 percent on imported aluminum. He justified the action by saying it’s needed to protect American metal producers from unfair competition and bolster national security.
The five separate countries that have received exemptions are Mexico, Canada, Australia, Argentina and Brazil.
The Trump administration risks igniting a trade battle with Europe just as it’s preparing for tense trade talks in China this week.
Trump is considering whether to permanently exempt the European Union and five other countries from tariffs that his administration imposed last month on imported steel and aluminum. The White House provided temporary exemptions in March and has until the end of Monday to decide whether to extend them.
If it loses its exemption, the EU has said it will retaliate with its own tariffs on U.S. goods imported to Europe.
The confrontation stems from the president’s decision in March to slap tariffs of 25 percent on imported steel and 10 percent on imported aluminum. Trump said the move was needed to protect American metal producers from unfair competition.