US holding off on steel and aluminum tariffs decision

The Trump administration has reached agreements-in-principle with Argentina Australia and Brazil according to the White House statement

In response to the Whilte House announcement to extend until June 1 the European Union (EU)'s exemption from USA steel and aluminium tariffs, the EU on Tuesday demanded that Washington grant it permanent exemption, saying that it won't negotiate under threat. The White House said it has come to agreements on permanent exemptions for Brazil, Australia and Argentina, and is still working on negotiations with other countries.

But Canada has argued that it has been supplying metals to the US military for generations, that its imports and exports of steel are balanced, and that it is working with the keep over-produced Asian steel out of North America.

Previous temporary tariff exemptions had been scheduled to expire Tuesday but were extended for 30 days while the various bilateral negotiations continue.

"We have large trade deficits with Mexico and Canada".

Some analysts suspect that the Trump trade team hopes to pressure the European Union and others to accept quotas on their steel exports to the United States as the price for having the tariffs lifted.

The 28 nations that make up the bloc serve as the largest single supplier of steel to the US, sending $6.2 billion across the Atlantic previous year. Johnny Isakson, another Georgia Republican, ahead of Mr. Trump's decision in March to impose blanket steel and aluminum tariffs of 25 and 10 percent, respectively, on national security grounds. NAFTA, which is under renegotiation right now, has been a bad deal for United States of America.

"Trump is buying time because he is delaying the decision and for that we don't know whether he is just negotiating or whether he is posturing", Folkert Graafsma, a Brussels-based trade specialist at the law firm VVGB, said in an interview.

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The optimist's view from across the Atlantic maintains that it can't hurt to try.

China welcomes the upcoming visit by a U.S. delegation led by Treasury Secretary Steven Mnuchin slated to arrive here on a two-day visit on Thursday, authorities said on Wednesday.

"I've had many conversations with the president", Trudeau told a news conference in Vancouver, hours before the delay was announced. President Trump responded to the Chinese threat by truly doubling down and doubling potential tariffs on Chinese imports to $100 billion. "But in the end, there is often a solution both sides can live with".

In addition to the metal and aluminum tariffs, the US imposed further tariffs on China to punish it for what the USA says is China's infringement on American mental property.

Trump tweeted Tuesday that there was "great potential" for the USA in addressing the trade disparities with other countries.

Trump has been incredibly vocal that the country's closest allies have done it a disservice in trade. China reacted nearly immediately by putting tariffs on a 128-item list of American exports; the European Union also threatened to put duties on key American exports like Harley-Davidson motorcycles.

Punting on the tariffs could give the administration the time and space to refocus its attention and that of its allies on China.

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