The United States Has Extended Tariffs On Imports Of Steel From Countries Such As The European Union.

- May 11, 2018 -

On April 30, the White House released the President's announcement said that the United States will extend to the European Union, Canada, Mexico, Argentina, Australia, Brazil and other economies steel tariff exemption period, as negotiations continue to strive for the time.

The President of the United States announced on March 8th trump, because import steel and aluminum products harm "national security" in the United States, the United States will on imported steel and aluminum products, respectively 25% and 10% of tariffs, tariff measures take effect on March 23rd.

On March 22, the White House agreed to a temporary exemption to the European Union, Canada, Australia, Brazil, Argentina, Mexico, South Korea and other economies in the steel tariffs until May 1, to deal with these economies cope with global steel overcapacity.

On April 30, according to the White House released the President's announcement, with trump the government over the past month with the progress of these economies, the U.S. decision to steel tariffs on these economies can be divided into three categories.

The first category is Canada, Mexico and the European Union.The United States will temporarily extend the exemption period for steel and aluminum in the three economies to June 1 and continue the 30-day negotiations.

Second, Argentina, Australia and Brazil.Since the us government has reached a principled agreement with them on steel and aluminium tariffs, the us will continue to exempt these economies from the steel and aluminium tariffs in order to finalise the final agreement without a tariff waiver deadline.If a deal cannot be struck soon, the trump administration will consider reimposing tariffs.

Third, South Korea.Because South Korea has agreed to reduce excess steel production capacity and with independent quota limit steel exports to the United States, South Korea's exports to the us steel products will continue to be exempt tariffs, but aluminum products exports to the us will be from May 1, tariffs.

In all negotiations with these economies, the trump administration focused on using quotas to limit imports, prevent transit and protect national security, the White House said in a statement.

The decision by the trump administration to impose high tariffs on steel and aluminium products has been strongly opposed by the international community.The European Union, Japan, Korea, Australia and other parties have expressed concern that warned the United States the measures not only may affect multilateral trade interests, but also to the stability of the rules-based multilateral trading system.


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