Trump pushes back decision on EU steel and aluminium tariffs
US President Donald Trump pushed back the potential for a European trade war today as he delayed a decision on imposing steel and aluminium tariffs on American allies by 30 days.
Trump will announce his final decision on tariffs against the European Union, Canada and Mexico on 1 June.
It follows the President putting a worldwide 25 per cent tariff on steel imports and a 10 per cent tariff on aluminium, granting temporary exemptions to Canada, Mexico, Brazil, the EU, Australia and Argentina.
Read more: EU makes final push for US tariff exemption ahead of deadline
The President has already heightened tensions with China over the sanctions, as the former threatened legal action against the US if the tariffs were not lifted.
A statement from the White House yesterday explained that deals had been reached in principle with Argentina, Australia and Brazil with regards to steel and aluminium.
Trump claims that the tariffs will protect American metal producers from unfair competition from the likes of China, who have been accused of creating an oversupply of steel and aluminium due to excess production.
Last month, the EU warned Trump that tariffs could threaten economic growth and “distort” global trade.
Just days ago, Trump was lobbied by French President Emmanuel Macron and German Chancellor Angela Merkel to not impose tariffs on the EU.