Trump Postpones Decision on Steel Tariffs for Many Allies, EU for Another Month
The White House will delay a decision on imposing tariffs on steel and aluminum imports from the European Union, Canada and Mexico, the New York Times reported late Monday.
According to a statement from the administration, the exemptions for Canada, Mexico, and the European Union will be extended for a "final 30 days" as negotiations continue with those countries.
The administration has also reached agreements in principle with Argentina, Australia, and Brazil with respect to steel and aluminium, the details of which will be finalised shortly, it said. Visit MarketWatch.com for more information on this news.
A source familiar with the decision said that there would be no further extensions beyond June 1 to stave off tariffs.
The report came just hours before tariff exemptions were due to expire at midnight for the EU, Canada, Mexico and others, after which the major exporters would face punishing import duties of 25 percent on steel and 10 percent on aluminum. The EU has threatened to retaliate by taxing goods shipped from the USA if Trump opts to impose steel and aluminum tariffs on member nations.
President Donald Trump announced extensions to steel and aluminum tariff exemptions for six key USA allies on Monday.
The U.S. imported 34.6 million metric tons of steel a year ago, a 15 percent increase from 2016, according to the U.S. Department of Commerce.
Guentzel, Penguins Win to End Flyers Season in Game 6
The Flyers could look to Nolan Patrick, the No. 2 overall pick of the 2017 draft, to play a more pivotal role next season. In the postseason, however, the club's down to an average of 31.2 shots on goal (and down to 4.0 goals per game).
Lightning 4, Bruins 2: Bad turnovers, worse officiating
With Rask off the ice, it was an opportunity to get a glimpse at what the future might look like between the pipes for the Bruins. Before the game begins, you can get caught up on everything you need to know in News Channel 8's Road to the Cup pregame special.
Spokesmen for Australia's Prime Minister Malcolm Turnbull and the country's Trade Minister Steven Ciobo both declined to comment when contacted by Reuters about the deal's terms before the White House's official announcement. Trump said the move was needed to protect American metal producers from unfair competition.
The metals tariffs have caused some divisions within Trump's Republican Party, as steel and aluminum consuming industries have warned that higher prices would hurt their competitiveness.
Eurozone powerhouse Germany warned last week it expected Washington to impose the tariffs from May 1, although a key economic advisor to Trump hinted on Thursday that European Union concessions in the auto sector might be enough to win an exemption.
Negotiations over US steel and aluminum tariff exemptions for Canada and Mexico have also become intertwined with intensified talks to reach an agreement to update the North American Free Trade Agreement.
Canada exported over $12 billion of steel and aluminum to the United States in 2017, with another $3 billion from Mexico.
The tariffs are already in effect for other countries, including China and Russian Federation.
The EU's three largest economies - Britain, France and Germany - held crisis talks on Sunday and the French presidency said afterward they had agreed "the EU must be ready to act" if Washington presses ahead with the tariffs.
Kelly calls 'BS' on report he called Trump an idiot
I was in the room for that meeting", the official told CNN . "He's an idiot", and "We've got to save him from himself". And though things have since cooled off, a new report from NBC News could bring their relationship back to the brink.
Football Association apologise for Harry Kane tweet
The BBC report that neither Manchester United nor Tottenham were impressed with the tweet from the official FA account. Tottenham striker Harry Kane defended his form after their FA Cup semifinal defeat to Manchester United .
Janelle Monáe Officially Comes Out As Queer
While the Wondaland Arts Society CEO initially identified as bisexual, she discovered a more apt term through further research. Two of her new songs, "Mushrooms & Roses" and "Q.U.E.E.N.", reference a character named Mary as an object of affection.
Why Chiefs fans should be excited about Breeland Speaks
Kansas City could still use help at cornerback, so general manager Brett Veach may not be done with that side of the ball. The Chiefs did not have a first-round pick after trading it away last season to select quarterback Patrick Mahomes II.
LeBron James Buzzer-Beater Thrills Twitter
James made several early hoops on vicious drives, getting around the corner repeatedly and beating any help to the rim. James made basket after basket in the paint, racking up nine of them from within three feet by halftime.
Met Office issues yellow weather warning for Portsmouth
Driving conditions are expected to be hard and there is a low level risk of flooding as a result of the high-volume of rainfall. The Met Office has put the warning in place for the whole of the day with a downpour of rain expected between 6am and 5pm.
Lawyer: Trump ready for role in raids' evidence review
Daniels' move to take part in the case in NY on Thursday could add another voice in the fight over who's reviewing Cohen's files. The parties had submitted seven other possible candidates, including former magistrate judges and prosecutors.