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United States extends steel, aluminum tariff exemptions for EU, Canada, Mexico

United States extends steel, aluminum tariff exemptions for EU, Canada, Mexico

European leaders have threatened countermeasures if the Trump administration goes ahead with the proposed tariffs.

Trump extends tariff exemptions for final 30 day period to allow for further negotiations.

"These agreements underscore the Trump administration's successful strategy to reach fair outcomes with allies to protect our national security and address global challenges to the steel and aluminium industries", the White House said.

"South Africa is therefore not a cause of any national security concerns in the USA nor a threat to United States industry interests and is not the cause of the global steel glut". It added that the tariffs, which are meant to protect US industry, can not be justified by national security concerns.

The U.S. Treasury Secretary will be joined on the high-stakes trip by U.S. Trade Representative Robert Lighthizer, White House trade adviser Peter Navarro and White House economic adviser Larry Kudlow.

"It's the methods, it's the tactics, it's the uncertainty, it's the impact on our supply chains that we're trying to communicate, and I'm just not convinced they're listening at this point", he said.

It must be highlighted that the EU is together with Canada the biggest steel exporter to the U.S. In addition, EU Commissioner Günther Oettinger stated on the issue that "Germany's growing trade surplus with the usa is because America does not have anything attractive to import". "We are getting into a whole lot of topics". "We will not take off sanctions until we are convinced and can verify that he (Kim) will give up his nuclear weapons".

With the extension leaving the door open to more permanent arrangements, shares in USA steelmakers dropped Tuesday.

Trump tweeted on Tuesday that there was "great potential" for the USA in addressing the trade disparities with other countries. Very much like North Korea, this should have been fixed years ago, not now.

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He added, "Same with other countries and NAFTA.but it will all get done".

"We should rather focus on a positive trade agenda", said Jyrki Katainen, a commission vice president also responsible for trade, in a tweet Tuesday.

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

"But we can only do so serenely when we are certain that we will be excluded from a unilateral increase in tariffs on a permanent basis", said the statement.

America is one the world's leading exporters of agricultural products.

Tuesday's extension of the tariff reprieve "just lengthens the uncertainty", says Mark Vaughn, the company president. To many of America's trading partners, particularly the member countries of the European Union, there is no clear answer to this question.

Australia has "confirmation from the president of the United States that Australia will be exempt from its steel and aluminium tariffs", stated the nation's Prime Minister, Malcolm Turnbull, the Guardian reported. The US on Monday confirmed that South Korea was granted a permanent exemption.

The Retail Federation, Consumer Technology Association and other trade groups have been working together and separately to lobby the administration to strike a deal with China that avoids tariffs, and otherwise to exclude specific products from the list.

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