Trump Suspends Steel, Aluminum Tariffs for Six Countries and the EU

By Melanie Arter | March 23, 2018 | 9:00 PM EDT

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(CNSNews.com) - President Donald Trump on Thursday authorized the modification of tariffs on  foreign steel and aluminum for six countries and the European Union.

The White House announced that Trump is suspending tariffs for those countries before they take effect. The suspensions are “based on factors including ongoing discussions regarding measures to reduce global excess capacity in steel and aluminum production by addressing its root causes.”

“The tariffs on steel and aluminum imports from the following countries are suspended until May 1, 2018, pending discussions of satisfactory long-term alternative means to address the threatened impairment to U.S. national security: Argentina, Australia, Brazil, Canada, Mexico, the member countries of the European Union, and South Korea,” the White House announced.

Trump will decide by May 1 whether to continue to exempt those countries from tariffs.

“The Administration will closely monitor imports of steel and aluminum imports from exempted countries, and the United States Trade Representative, in consultation with the Secretary of Commerce and the Director of the National Economic Council, may advise the President to impose quotas as appropriate. Further action by the President would be needed to implement any quota the President might decide to adopt,” the White House said.

As CNSNews.com previously reported, Trump imposed a 25 percent tariff on foreign steel and a 10 percent tariff on foreign aluminum, saying American industries have been targeted for decades by unfair foreign trade practices.

 


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