{"id":69538,"date":"2018-03-23T18:10:42","date_gmt":"2018-03-23T18:10:42","guid":{"rendered":"http:\/\/www.bnreport.com\/eus-exemption-from-us-tariffs-to-expire-may-1\/"},"modified":"2018-03-23T18:10:42","modified_gmt":"2018-03-23T18:10:42","slug":"eus-exemption-from-us-tariffs-to-expire-may-1","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/eus-exemption-from-us-tariffs-to-expire-may-1\/","title":{"rendered":"EU\u2019s exemption from US tariffs to expire May 1"},"content":{"rendered":"<p>The exemption granted to European Union countries from U.S. steel and aluminum tariffs will expire May 1, pending ongoing discussions, according to a <a href=\"https:\/\/www.politico.eu\/wp-content\/uploads\/2018\/03\/US-proclamation.pdf\" rel=\"noreferrer\" target=\"_blank\">proclamation<\/a> by U.S. President Donald Trump released overnight.<\/p>\n<p>The EU, Australia, Argentina, South Korea and Brazil were on Thursday exempted from America\u2019s 25 percent tariff on steel imports and 10 percent duty on aluminum, which takes effect Friday. Trump initially announced only that Canada and Mexico would be exempt, but hinted that other allies might also be let off the hook.<\/p>\n<p>The Trump administration has bound the EU\u2019s tariff exemption to the condition of launching talks to tackle \u201ctrade irritants,\u201d European Commissioner for Trade Cecilia Malmstr\u00f6m said Thursday. Malmstr\u00f6m and U.S. Commerce Secretary Wilbur Ross announced Wednesday they were launching \u201cimmediately a process of discussion \u2026 on trade issues of common concern.\u201d<\/p>\n<p>Trump has argued that the tariffs are necessary to protect sectors that are important to national security, which are being hurt by an influx of cheap foreign imports.<\/p>\n<p>In the proclamation, Trump underscored the fact that the EU and the U.S. have a \u201cshared commitment to addressing global excess capacity in steel production.\u201d Trump also invited other countries to discuss possible exemptions.<\/p>\n<p>EU leaders meeting in Brussels for the European Council summit on Thursday postponed issuing a formal statement on trade until Friday because they were still waiting for Trump\u2019s official statement on the exemption.<\/p>\n<p><a href=\"https:\/\/www.politico.eu\/article\/eus-exemption-from-us-steel-aluminum-tariffs-to-expire-may-1-donald-trump\/?utm_source=RSS_Feed&amp;utm_medium=RSS&amp;utm_campaign=RSS_Syndication\" rel=\"noreferrer\" target=\"_blank\">Original Article<\/a><\/p>\n<p> [contf] [contfnew]         <img decoding=\"async\" src=\"https:\/\/encrypted-tbn0.gstatic.com\/images?q=tbn:ANd9GcRMd3Tz2gX9xSa6CJyaOj2dokBVcrdaT4yY3R3RI7YmL18vCLZZ\"\/> <\/p>\n<h5><a href=\"http:\/\/www.politico.com\/&gt;Politico&lt;\/a&gt;&lt;\/h5&gt;_&lt;\/p&gt;[contfnewc]_[contfnewc]_&lt;\/body&gt;&lt;\/html&gt;\" rel=\"noreferrer\" target=\"_blank\"><\/a><\/h5>\n","protected":false},"excerpt":{"rendered":"<p>The exemption granted to European Union countries from U.S. steel and aluminum tariffs will expire M..<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[],"class_list":["post-69538","post","type-post","status-publish","format-standard","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - 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