France demands total European Union exemption from United States tariffs

Canada waits for news on US steel tariffs with deadline tomorrow

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Commerce Secretary Wilbur Ross alluded to these negotiations in a cable information interview Tuesday.

According to America's Department of Commerce, the US' largest partners regarding metal imports are the European Union and Mexico.

Last March President Donald Trump imposed worldwide tariffs of 25% on USA imports of steel and 10% on aluminium.

The White House said on Monday that it had reached agreements for permanent exemptions on steel and aluminum for Brazil, Argentina and Australia, and that the details of the deals would be finalized shortly.

Trump made a decision to postpone imposing the tariffs and extend exemptions that will allow the countries to continue exporting metals to the United States without being subject to a 25% tariff on steel and 10% tariff on aluminum.

Australia has a $42.7 billion trade relationship with the U.S., but imports more than it exports. "Or if they did, then they should be ashamed of themselves because they've destroyed the steel industry, they've destroyed the aluminum industry, and other industries, frankly", he said during the March 1 announcement.

In an announcement, the European Union criticized the one-month exemption, saying it mustn't have been topic to the commerce penalties within the first place.

"The US decision prolongs market uncertainty, which is already affecting business decisions", the commission, the EU's executive arm, said in a statement. "The EU must be absolutely and completely exempted from these measures, as they can't be justified on the grounds of nationwide safety", the assertion mentioned.

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Metals markets were steady on Tuesday and aluminum prices were little changed.

"The best thing we can all do is just try every avenue and eventually, something hopefully will stick", said Sage Chandler, vice president for global trade at the Consumer Technology Association.

"Trump is buying time because he is delaying the decision and for that we don't know whether he is just negotiating or whether he is posturing", Folkert Graafsma, a Brussels-based trade specialist at the law firm VVGB, said in an interview.

The never-ending cycle of reality tv-esque suspense coming out of the White House continues this week, as a delegation of White House officials travels to Beijing in an effort to avert the elusive all-out trade war some have feared since the current U.S. president took office.

Chinese officials are likely to propose terms such as agreeing to buy more USA products to reduce the trade deficit and to cut a 25 percent tariff on foreign vehicles, according to The Wall Street Journal.

Chinese steel was the target of the tariffs that President Trump announced earlier this year. Beijing has assured they will make good on their threat of retaliating in kind.

May 1, 2018 was the original deadline for President Donald Trump to make a decision pending North American Free Trade Agreement talks with Canada and Mexico and negotiations with the EU.

The Trump administration has issued an extension to negotiations with major economic partners regarding import tariffs.



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