Amid trade war fears?
In a last-minute twist, US President Donald Trump has postponed the imposition of steel and aluminium tariffs on Canada, the EU and Mexico until June 1.
The White House also announced that they reached agreements for permanent exemptions for Argentina, Australia and Brazil. The decisions came just hours before temporary exemptions from the tariffs on these countries were set to expire at 12:01am (0401 GMT) on Tuesday.
“The administration is also extending negotiations with Canada, Mexico, and the European Union for a final 30 days. In all of these negotiations, the administration is focused on quotas that will restrain imports, prevent transshipment, and protect the national security,” the White House added.
Trump had imposed a 25 per cent tariff on steel imports and a 10 per cent tariff on aluminium on March 23, but granted temporary exemptions to Canada, Mexico, Brazil, the EU, Australia and Argentina.