Trump Extends Relief, Confusion as Allies Get Tariff Reprieve

Steel, aluminum import tariffs now delayed until June 1
The EU says it won’t ‘negotiate under threat’ from U.S.

UniCredit’s Erik Nielsen says there’s a risk of a "tit-for-tat" trade dispute which spirals out of control.Source: Bloomberg

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By Justin Sink and Andrew Mayeda

May 1, 2018 at 9:30 AM UTC

Updated on

May 1, 2018 at 11:16 AM UTC

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President Donald Trump drew short shrift from key economic allies after he offered a second temporary exemption on metal-import tariffs rather than the permanent waiver most are demanding.

The U.S. said late Monday it would delay until June 1 import tariffs of 25 percent on steel and 10 percent on aluminum for the EU, Mexico and Canada. The White House also said it reached agreements-in-principle with Argentina, Australia and Brazil to remove the levies, which were introduced on national security grounds.