Trump grants EU tariff exemptions – but not for long

The EU has been granted an exemption from Donald Trump’s steel and aluminium tariffs – but only until 1 May.

The decision to exclude the trading bloc – which will include the UK – has come after weeks of high level talks between the two sides in the hope of breaking a deadlock.

EU trade commissioner Cecilia Malmstrom issued a number of warnings about reprisal tariffs, claiming it would damage trans-Atlantic relations between the two long-standing allies.

Canada, Mexico, Australia, Argentina, Brazil, South Korea will also be free from the levies announced by Donald Trump.

The exemptions will last until May 1, pending further discussions, the White House said, while tariffs on other countries will come into effect on Friday. It comes as Trump announced $60bn-worth of tariffs directed at China, in response to intellectual property violations.

The decision was announced shortly before 4am UK time, meaning the European Council summit has had to delay a planned discussion on world trade until this morning. Theresa May, who was expected to travel back to London last night, has remained with her fellow leaders.

This morning she said: “We’ve been working very hard to secure an EU-wide exemption to the steel tariffs that the Americans have announced. I am pleased they have announced a temporary exemption for the EU. What I will be working with my fellow EU leaders today on is to see how we can secure a permanent exemption for the EU for those steel tariffs.

“And I’ve stayed on to talk about those next steps because the steel industry is hugely important to the UK and to the British government. And I want to ensure that steel workers and their jobs are properly safeguarded.”