President Trump on Monday pushed back his deadline to decide whether to impose steel and aluminum tariffs on Canada, Mexico and the European Union to June 1.
The Trump administration also announced Monday via proclamation that South Korea would be exempt from the tariffs, a deal foreshadowed by the Office of the U.S. Trade Representative.
The White House additionally said while agreements in principle had been reached with Argentina, Australia, and Brazil, ongoing negotiations with Canada, Mexico, and the European Union would focus “on quotas that will restrain imports, prevent transshipment, and protect the national security.”
“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 aluminum industries,” a White House statement read.
Trump signed a proclamation in March to introduce a 25 percent tariff on most steel imports and a 10 percent tariff on most aluminum imports, which went into effect on March 23.
However, the White House revealed on March 22 that Argentina, Australia, Brazil, Canada, Mexico, South Korea, and E.U. member countries all received suspensions until May 1.
Trump had until midnight to make final determinations with regard to the important trade partners before extending the time frame.
