(Zero Hedge) – After unleashing the first shots in the global trade war, and facing some retaliation from China tonight, President Trump has decided to exclude multiple nations (and The EU) from steel and aluminum tariffs through May 1st. This action confirms what Ambassador Lighthizer suggested earlier in the
(Zero Hedge) – After unleashing the first shots in the global trade war, and facing some retaliation from China tonight, President Trump has decided to exclude multiple nations (and The EU) from steel and aluminum tariffs through May 1st.
This action confirms what Ambassador Lighthizer suggested earlier in the evening, which perhaps explains the negligible response to this modest retreat in the trade war.
Full White House Statement:
President Trump Approves Section 232 Tariff Modifications
WASHINGTON – Today, based on ongoing dialogues, President Donald J. Trump authorized the modification of the Section 232 tariffs on steel and aluminum imports to suspend the tariffs for certain countries before they take effect. These suspensions are based on factors including ongoing discussions regarding measures to reduce global excess capacity in steel and aluminum production by addressing its root causes.
The tariffs on steel and aluminum imports from the following countries are suspended until May 1,2018, pending discussions of satisfactory long-term alternative means to address the threatened impairment to U.
