With temporary exemptions due to expire at 12:01 a.m. Tuesday, President Trump on Monday postponed a decision on imposing steel and aluminum tariffs on Canada, Mexico, and the European Union until June 1, a person familiar with the matter told Reuters.
This person also said the Trump administration has "reached agreements in principle with Argentina, Australia, and Brazil, details of which will be finalized in the next 30 days." In March, Trump imposed a 25 percent tariff on steel imports and 10 percent tariff on aluminum, but several countries received temporary exemptions and South Korea was given a permanent exemption to steel tariffs, in exchange for agreeing to cut its exports to the U.S. by about 30 percent.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
What's next for Elon Musk?Today's Big Question The world's richest man has become 'disillusioned' with politics – but returning to his tech empire presents its own challenges
-
Quiz of The Week: 24 – 30 MayHave you been paying attention to The Week's news?
-
The Week Unwrapped: Will Europe beat China and India to the North Pole?Podcast Plus, is the man who designed the iPhone going to kill his own creation? And what's going on at the equalities watchdog?
-
Trump is trying to jump-start US manufacturing. Is it worth it?Today's Big Question The jobs are good. The workers may not be there.
-
The UK-US trade deal: what was agreed?In Depth Keir Starmer's calm handling of Donald Trump paid off, but deal remains more of a 'damage limitation exercise' than 'an unbridled triumph'
-
Tariffs were supposed to drive inflation. Why hasn't that happened?Talking Points Businesses' planning ahead helped. But uncertainty still looms.
-
Crypto firm Coinbase hacked, faces SEC scrutinySpeed Read The Securities and Exchange Commission has also been investigating whether Coinbase misstated its user numbers in past disclosures
-
Starbucks baristas strike over dress codespeed read The new uniform 'puts the burden on baristas' to buy new clothes, said a Starbucks Workers United union delegate
-
Trump vs. China: another tariff U-turn?Today's Big Question Washington and Beijing make huge tariff cuts, as both sides seek 'exit ramp' from escalating trade war
-
Warren Buffet announces surprise retirementspeed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement
-
Trump calls Amazon's Bezos over tariff displaySpeed Read The president was not happy with reports that Amazon would list the added cost from tariffs alongside product prices
