Mexican Media Brands
U.S. “Pauses” Tariffs on European Aluminum, Steel
President Donald Trump has decided to suspend plans to slap tariffs on aluminum and steel from the European Union pending the outcome of further discussions.
#economics #aluminum #labor
Share
President Donald Trump has decided to suspend plans to slap tariffs on aluminum and steel from the European Union, pending the outcome of further discussions.
The worldwide tariffs began today at a rate of 25% on imported steel and 10% on imported aluminum. Last week the White House said Canada and Mexico would be spared, at least until talks conclude about revising the North American Free Trade Agreement.
U.S. Trade Representative Robert Lighthizer tells a Senate committee that the provisional suspension also covers Argentina, Australia, Brazil and South Korea. He says Trump believes that some countries should be able to sidestep the taxes by meeting certain criteria.
BBC News estimates that the countries temporarily spared from the tariffs account for more than two-thirds of the $33 billion worth of steel the U.S. imported last year.
Reports last week suggested that at least some countries could avoid the new taxes by capping the value of aluminum and steel they export to the U.S. at 2017 levels.
RELATED CONTENT
-
VW Warns of Higher Costs to Develop EVs
CEO Herbert Diess says the €20 billion ($23 billion) Volkswagen AG has budgeted to electrify its entire vehicle lineup won’t be enough to meet that goal.
-
On Global EV Sales, Lean and the Supply Chain & Dealing With Snow
The distribution of EVs and potential implications, why lean still matters even with supply chain issues, where there are the most industrial robots, a potential coming shortage that isn’t a microprocessor, mapping tech and obscured signs, and a look at the future
-
On Urban Transport, the Jeep Grand Wagoneer, Lamborghini and more
Why electric pods may be the future of urban transport, the amazing Jeep Grand Wagoneer, Lamborghini is a green pioneer, LMC on capacity utilization, an aluminum study gives the nod to. . .aluminum, and why McLaren is working with TUMI.