US extended tariffs exemption for EU on trade talks - Reuters

As reported by Reuters, the US Commerce Secretary Wilbur Ross stated that the US granted an extension of the temporary exemptions for steel and aluminum tariffs to the EU on the basis of promising trade talks with Washington, but noted that he does not expect the practice to continue.

Key quotes

“We’re having some potentially fruitful discussions about an overall reduction in trade tensions,” Ross said in a CNBC interview. “I don’t think we have any intention to grant protracted extensions, that defeats the whole purpose.”

"In March, Trump imposed a 25 percent tariff on steel imports and a 10 percent tariff on aluminum imports. Canada, Mexico, Brazil, the EU, Australia and Argentina were granted temporary exemptions at that time."

"On Monday, hours before the exemptions were due to expire, the White House announced it would postpone tariffs on Canada, the EU and Mexico until June 1. Officials said Washington reached agreements for permanent exemptions for Argentina, Australia and Brazil."

"But countries granted exemptions from the steel and aluminum tariffs will still be subject to a quota system for imports, White House trade adviser Peter Navarro said on Tuesday."