Donald Trump delays tariffs for EU, other allies for 30 days

Donald Trump. Pic/AFP

Washington DC: The Trump administration on Monday (local time) announced that it has extended a decision on implementing steel and aluminum tariffs on the European Union (EU), Canada and Mexico. The decision has been delayed for another 30 days. The 25 percent tariffs on steel and 10 percent on aluminum were set to go into effect on Tuesday, reported the New York Times.

Negotiations will continue for the next 30 days with the 28-member bloc, as well as Canada and Mexico. The White House said this would be the final period to reach a deal with the key trading partners.

Those extensions will affect the EU, Canada and Mexico.

The administration has also reached agreements in principle on tariffs with Australia, Argentina and Brazil and they will also receive a 30-day extension so details can be finalized.

The US had been seeking concessions from these countries in exchange for not permitting the tariffs to go into effect.

South Korea's exemption from tariffs is permanent because it agreed to quotas as part of a new trade deal, according to the reports.

Trump¿s trade team is heading to Beijing this week to try to work out an agreement with China's leaders over another round of proposed tariffs.

Catch up on all the latest Crime, National, International and Hatke news here. Also download the new mid-day Android and iOS apps to get latest updates

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever