The United States has formally imposed tariffs on imports of steel and aluminum products.The European Union, Argentina, Australia, Brazil, South Korea and other economies have also been granted temporary exemptions.
On March 8, U.S. President Donald trump announced a 25 percent tariff on imported steel products and a 10 percent tariff on imported aluminium products, on the grounds of damaging national security.Canada and Mexico, which are in the process of updating the north American free trade agreement with the United States, are temporarily exempt.
Allies that have security cooperation with the United States can also contact the office of the U.S. trade representative to discuss exemptions.
The White House issued a statement announcing the temporary exemptions for steel and aluminum tariffs in the economy, hours before the tax was put into effect on March 22 evenig.The exemption period for these economies will continue until May 1 this year, the statement said.In the meantime, the U.S. will negotiate with these economies.President trump will decide on May 1 whether to extend the release date depending on the consultations.
The statement said the economies not on the exemption list could still apply for a U.S. tariff waiver, which the United States hopes will address the global glut of steel.
The U.S. department of commerce announced Thursday,U.S. companies can apply for exemptions from specific steel and aluminium products.An exempt product should be a product that domestic producers cannot produce or produce that cannot meet demand.The Commerce Department will decide whether to agree to the exemption within 90 days.
The decision by the Trump administration to impose high tariffs on imported steel and aluminium products has been strongly opposed by the United States and the international community.The countries have made it clear that they will respond firmly and defend their legitimate interests.This article link:http:///content/?237.html